14,799 Shares in GameStop Corp. (NYSE:GME) Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC acquired a new stake in shares of GameStop Corp. (NYSE:GME) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,799 shares of the company’s stock, valued at approximately $365,000.

A number of other hedge funds have also recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its stake in shares of GameStop by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock valued at $2,943,000 after buying an additional 3,459 shares during the last quarter. Coatue Management LLC bought a new position in GameStop during the 4th quarter valued at $1,315,000. State of Michigan Retirement System boosted its stake in 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 acquiring an additional 1,600 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in GameStop by 2.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock worth $2,438,000 after acquiring an additional 5,411 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of GameStop by 7.0% in the 1st quarter. BNP Paribas Financial Markets now owns 157,242 shares of the company’s stock worth $1,969,000 after purchasing an additional 10,289 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Transactions at GameStop

In related news, Director Lawrence Cheng acquired 4,140 shares of GameStop stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were 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 owns 48,408 shares in the company, valued at approximately $1,274,582.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 3,183 shares of company stock worth $81,001. 12.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GME. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Monday. Wedbush cut their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th.

GameStop Stock Performance

GameStop stock traded up $1.92 during mid-day trading on Friday, reaching $23.43. The company’s stock had a trading volume of 15,581,437 shares, compared to its average volume of 22,466,189. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 292.88 and a beta of -0.09. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The business has a 50 day moving average price of $23.47 and a 200-day moving average price of $19.62. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last announced its quarterly earnings data on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business had revenue of $881.80 million for the quarter, compared to the consensus estimate of $995.30 million. During the same period in the prior year, the company earned ($0.14) EPS. GameStop’s quarterly revenue was down 28.7% on a year-over-year basis. Sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

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.