Cornerstone Wealth Management LLC trimmed its position in GameStop Corp. (NYSE:GME – Free Report) by 19.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,430 shares of the company’s stock after selling 5,603 shares during the period. Cornerstone Wealth Management LLC’s holdings in GameStop were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares during the period. CWM LLC boosted its position in GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after buying an additional 529 shares during the last quarter. GAMMA Investing LLC increased its holdings in GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock worth $112,000 after buying an additional 1,414 shares during the period. Centaurus Financial Inc. purchased a new position in GameStop during the 3rd quarter worth approximately $171,000. Finally, American Century Companies Inc. acquired a new stake in GameStop during the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Wedbush reiterated an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research note on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th.
Insider Activity
In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.
GameStop Trading Down 1.7 %
Shares of NYSE:GME opened at $27.84 on Friday. The company has a market capitalization of $12.44 billion, a PE ratio of 154.67 and a beta of -0.02. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The business has a 50 day moving average of $29.55 and a two-hundred day moving average of $25.06.
GameStop (NYSE:GME – Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop’s revenue for the quarter was down 20.2% compared to the same quarter last year. Equities research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.
About GameStop
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.
Read More
- Five stocks we like better than GameStop
- What Are Growth Stocks and Investing in Them
- Bloom Energy: Powering the Future With Decentralized Energy
- Industrial Products Stocks Investing
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Want to see what other hedge funds are holding GME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GameStop Corp. (NYSE:GME – Free Report).
Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.