GameStop Corp. (NYSE:GME) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of GameStop Corp. (NYSE:GME) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,519,313 shares of the company’s stock after selling 46,142 shares during the period. Bank of New York Mellon Corp’s holdings in GameStop were worth $56,231,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after buying an additional 684 shares during the period. Bessemer Group Inc. boosted its stake in shares of GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock worth $54,000 after buying an additional 691 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after buying an additional 520 shares during the period. UMB Bank n.a. boosted its stake in shares of GameStop by 100.6% during the first quarter. UMB Bank n.a. now owns 3,651 shares of the company’s stock worth $81,000 after buying an additional 1,831 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of GameStop by 42.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,722 shares of the company’s stock worth $179,000 after buying an additional 1,698 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,269 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $23.95, for a total value of $30,392.55. Following the completion of the transaction, the general counsel directly owned 127,836 shares of the company’s stock, valued at approximately $3,061,672.20. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.28% of the company’s stock.

GameStop Price Performance

Shares of NYSE:GME opened at $23.39 on Friday. The company has a quick ratio of 7.89, a current ratio of 8.39 and a debt-to-equity ratio of 0.30. The company has a market cap of $10.46 billion, a P/E ratio of 50.85 and a beta of -0.81. GameStop Corp. has a 52 week low of $18.73 and a 52 week high of $35.81. The company has a 50-day moving average price of $26.66 and a 200 day moving average price of $26.54.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.13. The firm had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The firm’s revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. Research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wedbush upgraded shares of GameStop to a “strong sell” rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research 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.