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

M&T Bank Corp acquired a new stake in GameStop Corp. (NYSE:GMEFree Report) 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.

Read Our Latest Research Report on GME

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

(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.

See Also

Want to see what other hedge funds are holding GME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GameStop Corp. (NYSE:GMEFree Report).

Institutional Ownership by Quarter for GameStop (NYSE:GME)

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