GameStop Corp. $GME Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in GameStop Corp. (NYSE:GME) by 28.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,025,993 shares of the company’s stock after buying an additional 226,234 shares during the period. JPMorgan Chase & Co.’s holdings in GameStop were worth $25,024,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in GameStop in the second quarter worth about $45,000. Hantz Financial Services Inc. raised its position in shares of GameStop by 1,523.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company’s stock worth $52,000 after purchasing an additional 1,996 shares during the period. US Bancorp DE lifted its holdings in shares of GameStop by 92.5% in the 1st quarter. US Bancorp DE now owns 3,726 shares of the company’s stock worth $83,000 after purchasing an additional 1,790 shares during the last quarter. UMB Bank n.a. boosted its position in GameStop by 17.4% during the 2nd quarter. UMB Bank n.a. now owns 4,287 shares of the company’s stock valued at $105,000 after purchasing an additional 636 shares during the period. Finally, Bogart Wealth LLC boosted its position in GameStop by 25.0% during the 2nd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $122,000 after purchasing an additional 1,000 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, insider Daniel William Moore sold 6,509 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total transaction of $179,518.22. Following the sale, the insider directly owned 112,620 shares in the company, valued at approximately $3,106,059.60. The trade was a 5.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $122,703.42. Following the completion of the sale, the general counsel directly owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GameStop in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.50.

GameStop Stock Performance

GME opened at $23.22 on Thursday. The company has a current ratio of 11.37, a quick ratio of 10.79 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $22.95 and its 200-day moving average is $24.15. The stock has a market cap of $10.40 billion, a PE ratio of 31.81 and a beta of -1.30. GameStop Corp. has a twelve month low of $19.93 and a twelve month high of $35.81.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 9th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The firm had revenue of $972.20 million for the quarter, compared to analysts’ expectations of $823.25 million. During the same period last year, the firm earned $0.04 EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

GameStop Company Profile

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.