Principal Financial Group Inc. Lowers Holdings in GameStop Corp. (NYSE:GME)

Principal Financial Group Inc. trimmed its holdings in GameStop Corp. (NYSE:GMEGet Rating) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 213,327 shares of the company’s stock after selling 3,516 shares during the period. Principal Financial Group Inc. owned approximately 0.28% of GameStop worth $31,655,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GME. Invesco Ltd. boosted its position in shares of GameStop by 64.2% during the third quarter. Invesco Ltd. now owns 383,827 shares of the company’s stock worth $67,349,000 after buying an additional 150,130 shares during the period. American International Group Inc. boosted its position in shares of GameStop by 1,640.0% during the third quarter. American International Group Inc. now owns 107,725 shares of the company’s stock worth $18,903,000 after buying an additional 101,534 shares during the period. Geode Capital Management LLC boosted its position in shares of GameStop by 11.6% during the third quarter. Geode Capital Management LLC now owns 752,985 shares of the company’s stock worth $132,126,000 after buying an additional 78,453 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of GameStop by 5,052.3% during the third quarter. The Manufacturers Life Insurance Company now owns 71,771 shares of the company’s stock worth $12,594,000 after buying an additional 70,378 shares during the period. Finally, Credit Suisse AG boosted its position in shares of GameStop by 100.8% during the third quarter. Credit Suisse AG now owns 124,458 shares of the company’s stock worth $21,839,000 after buying an additional 62,462 shares during the period. Institutional investors own 38.25% of the company’s stock.

Several analysts have recently issued reports on GME shares. Zacks Investment Research cut GameStop from a “hold” rating to a “strong sell” rating and set a $80.00 price objective on the stock. in a research note on Tuesday, March 22nd. Wedbush reduced their price objective on GameStop from $45.00 to $30.00 and set an “underperform” rating on the stock in a research note on Friday, March 18th.

In other news, Director Ryan Cohen acquired 100,000 shares of the company’s stock in a transaction on Tuesday, March 22nd. The shares were bought at an average price of $101.76 per share, with a total value of $10,176,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alain Attal acquired 1,500 shares of the company’s stock in a transaction on Thursday, March 24th. The shares were purchased at an average cost of $129.91 per share, for a total transaction of $194,865.00. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

Shares of NYSE GME opened at $98.39 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. GameStop Corp. has a 12-month low of $77.58 and a 12-month high of $344.66. The business’s fifty day simple moving average is $127.86 and its 200-day simple moving average is $142.93.

GameStop (NYSE:GMEGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($2.70). GameStop had a negative net margin of 6.34% and a negative return on equity of 21.76%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that GameStop Corp. will post -4.93 earnings per share for the current fiscal year.

GameStop Profile (Get Rating)

GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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