Foundations Investment Advisors LLC Makes New $878,000 Investment in GameStop Corp. (NYSE:GME)

Foundations Investment Advisors LLC purchased a new position in shares of GameStop Corp. (NYSE:GME) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,008 shares of the company’s stock, valued at approximately $878,000.

Several other large investors have also modified their holdings of the business. State Street Corp lifted its stake in GameStop by 38.0% in the third quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after acquiring an additional 3,070,571 shares during the period. Geode Capital Management LLC grew its position in GameStop by 41.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock worth $144,009,000 after purchasing an additional 1,852,088 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after acquiring an additional 646,488 shares during the last quarter. Swiss National Bank boosted its position in GameStop by 46.0% in the third quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after buying an additional 249,100 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of GameStop by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company’s stock worth $17,750,000 after acquiring an additional 244,339 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of GameStop stock opened at $27.50 on Thursday. The company’s fifty day moving average is $29.56 and its two-hundred day moving average is $25.08. The company has a market capitalization of $12.28 billion, a P/E ratio of 152.76 and a beta of -0.02. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The business’s revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, equities analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GME has been the topic of several analyst reports. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research report on Friday, December 6th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Saturday, October 19th.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 1,577 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 value of $48,997.39. Following the sale, the general counsel now owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their position. The disclosure for this sale can be found here. 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.