Scotia Capital Inc. Makes New $285,000 Investment in GameStop Corp. (NYSE:GME)

Scotia Capital Inc. acquired a new stake in shares of GameStop Corp. (NYSE:GME) during the 4th quarter, Holdings Channel reports. The firm acquired 9,087 shares of the company’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in GameStop by 223.5% during the 4th 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. New Wave Wealth Advisors LLC purchased a new position in shares of GameStop during the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new stake in GameStop during the fourth quarter worth $51,000. Bessemer Group Inc. boosted its holdings in GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock worth $54,000 after acquiring an additional 691 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after acquiring an additional 682 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Price Performance

Shares of NYSE:GME opened at $26.66 on Wednesday. The company has a market capitalization of $11.92 billion, a PE ratio of 148.14 and a beta of -0.44. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The business has a fifty day moving average price of $24.59 and a two-hundred day moving average price of $25.92.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. GameStop’s revenue was down 28.5% on a year-over-year basis. Sell-side analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, Director Alain Attal acquired 10,000 shares of GameStop stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the purchase, the director now owns 572,464 shares of the company’s stock, valued at approximately $14,740,948. This represents a 1.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $105,598.11. Following the sale, the general counsel now directly owns 37,663 shares in the company, valued at $848,547.39. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 515,000 shares of company stock worth $11,140,200 over the last ninety days. 12.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush set a $11.50 target price on 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.