GameStop Corp. (NYSE:GME) Stake Increased by Swiss National Bank

Swiss National Bank grew its holdings in GameStop Corp. (NYSE:GME) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,828 shares of the company’s stock after purchasing an additional 5,200 shares during the period. Swiss National Bank’s holdings in GameStop were worth $13,673,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Covestor Ltd increased its stake in shares of GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after acquiring an additional 181 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of GameStop in the first quarter worth $50,000. Fifth Third Bancorp increased its stake in shares of GameStop by 366.7% in the second quarter. Fifth Third Bancorp now owns 1,036 shares of the company’s stock worth $25,000 after acquiring an additional 814 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of GameStop by 457.1% in the first quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock worth $175,000 after acquiring an additional 864 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of GameStop in the first quarter worth $288,000. Hedge funds and other institutional investors own 39.46% of the company’s stock.

GameStop Trading Down 1.7 %

GameStop stock opened at $12.81 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.87 and a quick ratio of 1.24. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -38.82 and a beta of -0.21. GameStop Corp. has a one year low of $11.82 and a one year high of $27.87. The company’s fifty day moving average price is $14.83 and its two-hundred day moving average price is $19.41.

GameStop (NYSE:GME) last posted its earnings results on Wednesday, September 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.11. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. GameStop had a negative net margin of 1.72% and a negative return on equity of 7.50%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. On average, analysts forecast that GameStop Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In other GameStop news, Director Lawrence Cheng purchased 4,768 shares of the stock in a transaction dated Friday, September 8th. The shares were bought at an average cost of $17.64 per share, with a total value of $84,107.52. Following the completion of the transaction, the director now owns 53,856 shares in the company, valued at approximately $950,019.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GameStop news, Director Lawrence Cheng purchased 4,768 shares of the stock in a transaction dated Friday, September 8th. The shares were bought at an average cost of $17.64 per share, with a total value of $84,107.52. Following the completion of the transaction, the director now owns 53,856 shares in the company, valued at approximately $950,019.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 11,966 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $15.48, for a total value of $185,233.68. Following the completion of the sale, the general counsel now directly owns 69,377 shares in the company, valued at $1,073,955.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,872 shares of company stock valued at $260,835. 12.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GME has been the topic of a number of research reports. Wedbush dropped their price target on shares of GameStop from $6.20 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, September 7th. StockNews.com assumed coverage on shares of GameStop in a research report on Thursday, October 5th. They set a “sell” rating on the stock.

GameStop Company 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.