Nuveen Asset Management LLC acquired a new position in GameStop Corp. (NYSE:GME) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 482,928 shares of the company’s stock, valued at approximately $2,642,000.
A number of other hedge funds have also bought and sold shares of GME. Renaissance Technologies LLC boosted its position in GameStop by 905.9% in the second quarter. Renaissance Technologies LLC now owns 5,127,146 shares of the company’s stock worth $28,045,000 after purchasing an additional 4,617,446 shares during the last quarter. Aristeia Capital LLC purchased a new position in shares of GameStop during the 2nd quarter valued at $16,116,000. 3G Capital Partners LP purchased a new position in shares of GameStop during the 2nd quarter valued at $13,955,000. Alpine Associates Management Inc. purchased a new position in shares of GameStop during the 2nd quarter valued at $13,183,000. Finally, Quinn Opportunity Partners LLC lifted its position in shares of GameStop by 1,848.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 2,449,719 shares of the company’s stock valued at $13,400,000 after buying an additional 2,324,024 shares during the last quarter.
A number of research analysts have recently commented on the company. Benchmark dropped their price target on GameStop from $5.00 to $3.00 and set a “sell” rating on the stock in a research report on Wednesday, September 11th. They noted that the move was a valuation call. ValuEngine raised GameStop from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Wedbush dropped their price target on GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Loop Capital set a $4.00 price target on GameStop and gave the company a “hold” rating in a research report on Thursday, September 12th. Finally, Bank of America dropped their price target on GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. GameStop currently has an average rating of “Hold” and an average target price of $8.35.
Shares of NYSE GME opened at $5.93 on Tuesday. GameStop Corp. has a one year low of $3.15 and a one year high of $16.90. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 0.59. The business’s fifty day moving average price is $5.01 and its 200-day moving average price is $5.94. The stock has a market capitalization of $537.32 million, a PE ratio of 2.77 and a beta of 0.42.
GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.10). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.37 billion. GameStop had a negative net margin of 13.59% and a positive return on equity of 15.38%. During the same period in the prior year, the company earned $0.05 EPS. As a group, equities analysts expect that GameStop Corp. will post 1.11 EPS for the current fiscal year.
In related news, Director Lizabeth Dunn acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $5.38 per share, with a total value of $26,900.00. Following the acquisition, the director now owns 32,969 shares of the company’s stock, valued at approximately $177,373.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carrie W. Teffner acquired 21,118 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $99,888.14. Following the acquisition, the director now directly owns 55,469 shares in the company, valued at approximately $262,368.37. The disclosure for this purchase can be found here. Insiders have purchased a total of 36,268 shares of company stock worth $175,886 in the last three months. 2.40% of the stock is currently owned by insiders.
GameStop Company Profile
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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