Wedge Capital Management L L P NC Takes Position in GameStop Corp. (NYSE:GME)

Wedge Capital Management L L P NC acquired a new stake in GameStop Corp. (NYSE:GME) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,819 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds have also recently added to or reduced their stakes in GME. Oppenheimer & Co. Inc. raised its stake in GameStop by 7.7% in the third quarter. Oppenheimer & Co. Inc. now owns 29,300 shares of the company’s stock valued at $162,000 after purchasing an additional 2,100 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in GameStop by 14.3% in the third quarter. Envestnet Asset Management Inc. now owns 21,318 shares of the company’s stock valued at $118,000 after purchasing an additional 2,675 shares in the last quarter. FNY Investment Advisers LLC raised its stake in GameStop by 134.3% in the third quarter. FNY Investment Advisers LLC now owns 5,622 shares of the company’s stock valued at $31,000 after purchasing an additional 3,222 shares in the last quarter. Swiss National Bank raised its stake in GameStop by 2.2% in the second quarter. Swiss National Bank now owns 189,782 shares of the company’s stock valued at $1,038,000 after purchasing an additional 4,000 shares in the last quarter. Finally, United Services Automobile Association raised its stake in GameStop by 12.4% in the second quarter. United Services Automobile Association now owns 36,164 shares of the company’s stock valued at $198,000 after purchasing an additional 4,003 shares in the last quarter.

Shares of GME stock traded down $0.13 during trading hours on Friday, hitting $6.09. 1,956,044 shares of the company’s stock were exchanged, compared to its average volume of 5,641,071. The company has a market capitalization of $534.60 million, a PE ratio of 2.85 and a beta of 0.41. GameStop Corp. has a 12-month low of $3.15 and a 12-month high of $16.90. The business’s 50 day simple moving average is $5.64 and its 200-day simple moving average is $5.64. The company has a current ratio of 1.37, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.10). The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.37 billion. GameStop had a positive return on equity of 15.38% and a negative net margin of 13.59%. During the same period last year, the business posted $0.05 earnings per share. Equities analysts anticipate that GameStop Corp. will post 1.11 EPS for the current year.

In other news, Director Lizabeth Dunn bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $5.38 per share, with a total value of $26,900.00. Following the completion of the purchase, the director now directly owns 32,969 shares in the company, valued at $177,373.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carrie W. Teffner bought 21,118 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of $4.73 per share, for a total transaction of $99,888.14. Following the completion of the purchase, the director now owns 55,469 shares of the company’s stock, valued at $262,368.37. The disclosure for this purchase can be found here. Insiders have acquired 36,268 shares of company stock worth $175,886 over the last three months. Insiders own 2.40% of the company’s stock.

A number of equities research analysts recently weighed in on GME shares. Loop Capital set a $4.00 target price on shares of GameStop and gave the company a “hold” rating in a research note on Thursday, September 12th. Wedbush lowered their target price on shares of GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Bank of America lowered their target price on shares of GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a research note on Tuesday, August 20th. Telsey Advisory Group lifted their price target on shares of GameStop from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. Finally, ValuEngine raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.95.

GameStop Company Profile

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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