GameStop Corp. (NYSE:GME) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of GameStop Corp. (NYSE:GME) by 12.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 678,433 shares of the company’s stock after selling 95,663 shares during the quarter. JPMorgan Chase & Co.’s holdings in GameStop were worth $21,262,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of GME. Vanguard Group Inc. increased its stake in GameStop by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock valued at $1,226,775,000 after buying an additional 2,036,032 shares during the period. State Street Corp increased its stake in shares of GameStop by 38.0% during the third 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 raised its holdings in GameStop by 41.8% during the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock worth $144,009,000 after purchasing an additional 1,852,088 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in GameStop by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock valued at $113,146,000 after purchasing an additional 107,354 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in GameStop by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock valued at $80,401,000 after purchasing an additional 60,673 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Transactions at GameStop

In other GameStop news, Director Alain Attal acquired 10,000 shares of GameStop stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average cost of $25.75 per share, with a total value of $257,500.00. Following the purchase, the director now owns 572,464 shares in the company, valued at approximately $14,740,948. The trade was a 1.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. This trade represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 515,000 shares of company stock valued at $11,140,200 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

GameStop Stock Performance

Shares of NYSE:GME opened at $25.00 on Friday. The company has a market capitalization of $11.18 billion, a PE ratio of 138.91 and a beta of -0.44. The stock has a fifty day moving average of $24.50 and a 200-day moving average of $25.83. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. As a group, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GME shares. Wedbush set a $11.50 price objective on GameStop in a report on Wednesday, March 26th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th.

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.