Sterling Investment Advisors Ltd. Makes New Investment in GameStop Corp. (NYSE:GME)

Sterling Investment Advisors Ltd. bought a new stake in GameStop Corp. (NYSE:GME) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,247 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of GameStop by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after purchasing an additional 289,947 shares during the period. Van ECK Associates Corp raised its stake in shares of GameStop by 14.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after purchasing an additional 209,861 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. BNP Paribas Financial Markets raised its stake in shares of GameStop by 527.0% during the 4th quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock valued at $2,576,000 after purchasing an additional 123,516 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of GameStop by 659.6% during the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock valued at $1,749,000 after purchasing an additional 121,328 shares during the period. 29.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GME has been the topic of a number of analyst reports. StockNews.com upgraded GameStop to a “sell” rating in a research note on Monday, August 26th. Wedbush reduced their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th.

GameStop Price Performance

GameStop stock opened at $22.37 on Friday. 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 $23.33 and a 200 day simple moving average of $19.85. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 279.63 and a beta of -0.09.

GameStop (NYSE:GME) last posted its earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. GameStop’s quarterly revenue was down 28.7% compared to the same quarter last year. On average, research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the transaction, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the transaction, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Cheng acquired 4,140 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was purchased at an average price of $24.85 per share, with a total value of $102,879.00. Following the completion of the acquisition, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. In the last three months, insiders sold 3,183 shares of company stock worth $81,001. 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.