SG Americas Securities LLC Sells 2,939 Shares of GameStop Corp. (NYSE:GME)

SG Americas Securities LLC cut its position in GameStop Corp. (NYSE:GME) by 22.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,968 shares of the company’s stock after selling 2,939 shares during the quarter. SG Americas Securities LLC’s holdings in GameStop were worth $229,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of GameStop by 312.2% during the 4th quarter. Wellington Management Group LLP now owns 77,097 shares of the company’s stock valued at $1,352,000 after purchasing an additional 58,394 shares during the period. Vanguard Group Inc. raised its stake in shares of GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of GameStop by 21.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,025 shares of the company’s stock valued at $211,000 after purchasing an additional 2,105 shares during the period. State of Michigan Retirement System raised its stake in shares of GameStop by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock valued at $826,000 after purchasing an additional 1,600 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of GameStop by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock valued at $12,662,000 after purchasing an additional 25,159 shares during the period. 29.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on GME shares. Wedbush decreased their price objective on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday.

GameStop Stock Down 2.6 %

GameStop stock opened at $20.66 on Tuesday. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The business has a 50-day simple moving average of $21.71 and a 200 day simple moving average of $21.66. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 258.25 and a beta of -0.19.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The firm had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. On average, research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Transactions at GameStop

In related news, insider Daniel William Moore sold 1,972 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $20.82, for a total transaction of $229,020.00. Following the completion of the sale, the general counsel now directly owns 43,927 shares in the company, valued at $914,560.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the transaction, the insider now directly owns 37,280 shares of the company’s stock, valued at $818,668.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is currently owned by corporate insiders.

GameStop Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.