Wedge Capital Management L L P NC purchased a new position in GameStop Corp. (NYSE:GME) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,819 shares of the company’s stock, valued at approximately $242,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC raised its position in shares of GameStop by 134.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 5,622 shares of the company’s stock worth $31,000 after purchasing an additional 3,222 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in GameStop in the 3rd quarter worth about $47,000. Bank of Montreal Can raised its position in GameStop by 274.9% in the 2nd quarter. Bank of Montreal Can now owns 9,605 shares of the company’s stock worth $52,000 after buying an additional 7,043 shares during the last quarter. Edge Wealth Management LLC purchased a new position in GameStop in the 3rd quarter worth about $55,000. Finally, Handelsbanken Fonder AB purchased a new position in GameStop in the 2nd quarter worth about $65,000.
In other GameStop news, Director Lizabeth Dunn purchased 5,000 shares of GameStop stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $5.38 per share, with a total value of $26,900.00. Following the transaction, the director now directly owns 32,969 shares of the company’s stock, valued at $177,373.22. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carrie W. Teffner purchased 21,118 shares of GameStop stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $4.73 per share, with a total value of $99,888.14. Following the transaction, the director now directly owns 55,469 shares in the company, valued at $262,368.37. The disclosure for this purchase can be found here. Insiders have bought a total of 36,268 shares of company stock valued at $175,886 in the last ninety days. Insiders own 2.40% of the company’s stock.
A number of equities analysts have weighed in on the company. Benchmark decreased their target price on GameStop from $5.00 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, September 11th. They noted that the move was a valuation call. Loop Capital set a $4.00 target price on GameStop and gave the stock a “hold” rating in a research report on Thursday, September 12th. Wedbush decreased their target price on GameStop from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Telsey Advisory Group boosted their target price on GameStop from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Finally, ValuEngine raised GameStop from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.95.
Shares of NYSE GME traded down $0.13 during midday trading on Friday, hitting $6.09. 1,956,044 shares of the company’s stock traded hands, compared to its average volume of 5,641,071. GameStop Corp. has a 1 year low of $3.15 and a 1 year high of $16.90. The stock has a market capitalization of $534.60 million, a price-to-earnings ratio of 2.85 and a beta of 0.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 1.37. The firm has a fifty day moving average of $5.64 and a 200 day moving average of $5.64.
GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.10). GameStop had a negative net margin of 13.59% and a positive return on equity of 15.38%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned $0.05 EPS. On average, equities analysts anticipate that GameStop Corp. will post 1.11 earnings per share for the current year.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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