Rhumbline Advisers Grows Stock Holdings in GameStop Corp. $GME

Rhumbline Advisers lifted its stake in GameStop Corp. (NYSE:GME) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,076,976 shares of the company’s stock after purchasing an additional 9,036 shares during the quarter. Rhumbline Advisers owned about 0.24% of GameStop worth $26,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new position in GameStop during the second quarter valued at $275,000. Legal & General Group Plc increased its holdings in shares of GameStop by 12.7% during the second quarter. Legal & General Group Plc now owns 851,977 shares of the company’s stock valued at $20,780,000 after acquiring an additional 95,795 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of GameStop by 28.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,025,993 shares of the company’s stock worth $25,024,000 after purchasing an additional 226,234 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in GameStop by 1.3% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 61,893 shares of the company’s stock worth $1,510,000 after purchasing an additional 799 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in GameStop by 24.2% in the 2nd quarter. Intech Investment Management LLC now owns 59,058 shares of the company’s stock worth $1,440,000 after purchasing an additional 11,497 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Trading Up 3.0%

Shares of NYSE:GME opened at $21.68 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 11.37 and a quick ratio of 10.79. GameStop Corp. has a 1 year low of $19.93 and a 1 year high of $35.81. The company has a market cap of $9.71 billion, a P/E ratio of 29.70 and a beta of -1.00. The stock’s fifty day moving average price is $23.32 and its 200-day moving average price is $24.35.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 9th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $972.20 million during the quarter, compared to analyst estimates of $823.25 million. GameStop had a return on equity of 7.72% and a net margin of 9.41%.GameStop’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS. Sell-side analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,449 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total transaction of $122,703.42. Following the transaction, the general counsel owned 112,302 shares in the company, valued at $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel William Moore sold 6,509 shares of the firm’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 $179,518.22. Following the completion of the sale, the insider owned 112,620 shares in the company, valued at $3,106,059.60. This represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,788 shares of company stock valued at $321,046 over the last three months. 8.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

GameStop 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.