Wells Fargo & Company MN Has $179,000 Holdings in GameStop Corp. (NYSE:GME)

Wells Fargo & Company MN boosted its stake in GameStop Corp. (NYSE:GME) by 42.2% during the 4th quarter, HoldingsChannel reports. The fund owned 5,722 shares of the company’s stock after acquiring an additional 1,698 shares during the quarter. Wells Fargo & Company MN’s holdings in GameStop were worth $179,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in GameStop by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock worth $1,226,775,000 after acquiring an additional 2,036,032 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of GameStop by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company’s stock valued at $208,769,000 after acquiring an additional 380,554 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in GameStop by 46.1% during the third quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company’s stock worth $17,750,000 after acquiring an additional 244,339 shares in the last quarter. Amundi bought a new position in GameStop in the fourth quarter valued at approximately $5,332,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of GameStop by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after purchasing an additional 107,354 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of GME opened at $27.53 on Friday. The firm’s 50-day simple moving average is $25.05 and its 200 day simple moving average is $26.61. The firm has a market cap of $12.31 billion, a P/E ratio of 152.95 and a beta of -0.76. GameStop Corp. has a 52 week low of $16.88 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. During the same period in the previous year, the company posted $0.21 EPS. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. As a group, equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alain Attal bought 10,000 shares of GameStop stock in a transaction dated Thursday, April 10th. The shares were bought at an average cost of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now owns 572,464 shares in the company, valued at $14,740,948. This trade represents a 1.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel William Moore sold 1,608 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $36,228.24. Following the sale, the insider now directly owns 29,777 shares of the company’s stock, valued at $670,875.81. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush set a $11.50 price target on shares of GameStop in a research note on Wednesday, March 26th. StockNews.com raised 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.