M&T Bank Corp Takes Position in GameStop Corp. (NYSE:GME)

M&T Bank Corp acquired a new stake in GameStop Corp. (NYSE:GME) in the fourth quarter, HoldingsChannel reports. The fund acquired 6,370 shares of the company’s stock, valued at approximately $200,000.

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

GameStop Stock Performance

Shares of GME stock opened at $23.08 on Friday. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 128.20 and a beta of -0.29. The company has a 50-day simple moving average of $26.65 and a 200 day simple moving average of $25.56. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares of the company’s stock, valued at $975,131.95. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This represents 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 insiders.

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.