GameStop Corp. (NYSE:GME) Stock Holdings Boosted by Selway Asset Management

by · The Markets Daily

Selway Asset Management raised its position in shares of GameStop Corp. (NYSE:GME – Free Report) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,500 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Selway Asset Management’s holdings in GameStop were worth $699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GME. UMB Bank n.a. lifted its position in shares of GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after acquiring an additional 959 shares during the last quarter. CWM LLC lifted its position in shares of GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after acquiring an additional 529 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of GameStop by 21.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 80,000 shares of the company’s stock valued at $1,834,000 after acquiring an additional 13,900 shares during the last quarter. Algert Global LLC acquired a new stake in shares of GameStop during the 2nd quarter valued at $1,003,000. Finally, Millennium Management LLC lifted its position in shares of GameStop by 226.6% during the 2nd quarter. Millennium Management LLC now owns 123,800 shares of the company’s stock valued at $3,057,000 after acquiring an additional 85,893 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Stock Down 0.4 %

Shares of GME traded down $0.08 during mid-day trading on Friday, reaching $20.83. The company’s stock had a trading volume of 3,931,552 shares, compared to its average volume of 20,793,910. The business has a fifty day moving average of $21.73 and a 200 day moving average of $21.20. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 260.38 and a beta of -0.19. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME – Get Free Report) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The company’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

GME has been the subject of a number of recent research reports. Wedbush cut their price objective on GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a report on Wednesday, September 25th.

Read Our Latest Stock Analysis on GME

Insider Buying and Selling

In related news, insider Daniel William Moore sold 1,972 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares in the company, valued at approximately $818,668.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Daniel William Moore sold 1,972 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares in the company, valued at approximately $818,668.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total value of $229,020.00. Following the sale, the general counsel now owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,015 shares of company stock worth $425,896. Corporate insiders own 12.28% of the company’s stock.

GameStop Company Profile

(Free Report)

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

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