GameStop Corp. (NYSE:GME) Stock Position Reduced by Selway Asset Management

Selway Asset Management trimmed its position in GameStop Corp. (NYSE:GME) by 6.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,500 shares of the company’s stock after selling 2,000 shares during the period. Selway Asset Management’s holdings in GameStop were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GME. Vanguard Group Inc. raised its stake in GameStop by 5.5% during the fourth 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 period. State Street Corp raised its position in shares of GameStop by 38.0% during the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after purchasing an additional 3,070,571 shares during the period. Geode Capital Management LLC lifted 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 worth $208,769,000 after purchasing an additional 380,554 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 during the period. Finally, Bank of New York Mellon Corp grew 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 worth $80,401,000 after buying an additional 60,673 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

GameStop Price Performance

Shares of GME stock opened at $22.57 on Thursday. The business has a 50 day simple moving average of $25.06 and a 200 day simple moving average of $25.70. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 125.40 and a beta of -0.29. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. The company had revenue of $1.28 billion for 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%. The company’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GME. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush set a $11.50 target price on shares of GameStop in a research note on Wednesday, March 26th.

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.