IBM Retirement Fund reduced its position in GameStop Corp. (NYSE:GME) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,327 shares of the company’s stock after selling 427 shares during the period. IBM Retirement Fund’s holdings in GameStop Corp. were worth $274,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its stake in shares of GameStop Corp. by 0.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 160,700 shares of the company’s stock worth $5,099,000 after buying an additional 500 shares in the last quarter. Babson Capital Management LLC increased its stake in shares of GameStop Corp. by 0.9% in the first quarter. Babson Capital Management LLC now owns 67,012 shares of the company’s stock worth $2,126,000 after buying an additional 600 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of GameStop Corp. by 3.5% in the first quarter. CIBC World Markets Inc. now owns 18,282 shares of the company’s stock worth $580,000 after buying an additional 611 shares in the last quarter. Weaver C. Barksdale & Associates Inc. increased its stake in shares of GameStop Corp. by 8.3% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 19,820 shares of the company’s stock worth $527,000 after buying an additional 1,514 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of GameStop Corp. by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 361,363 shares of the company’s stock worth $9,605,000 after buying an additional 1,516 shares in the last quarter.
GameStop Corp. (NYSE:GME) traded up 1.66% during trading on Friday, reaching $27.59. The company’s stock had a trading volume of 1,788,802 shares. GameStop Corp. has a 1-year low of $24.33 and a 1-year high of $47.62. The stock has a 50 day moving average price of $28.88 and a 200 day moving average price of $29.36. The stock has a market capitalization of $2.87 billion, a PE ratio of 7.27 and a beta of 1.03.
GameStop Corp. (NYSE:GME) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts anticipate that GameStop Corp. will post $3.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio (DPR) is presently 39.05%.
A number of analysts recently issued reports on the company. Bank of America Corp. restated a “buy” rating on shares of GameStop Corp. in a research report on Sunday, July 17th. Pacific Crest reiterated a “hold” rating on shares of GameStop Corp. in a research note on Saturday, June 4th. Wedbush set a $36.00 target price on GameStop Corp. and gave the stock a “buy” rating in a research note on Sunday, August 28th. Vetr upgraded GameStop Corp. from a “buy” rating to a “strong-buy” rating and set a $33.63 target price on the stock in a research note on Tuesday, August 2nd. Finally, Macquarie initiated coverage on GameStop Corp. in a research note on Thursday, June 30th. They issued an “outperform” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $36.57.
In other GameStop Corp. news, EVP Michael Mauler purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were acquired at an average price of $26.91 per share, with a total value of $269,100.00. Following the purchase, the executive vice president now directly owns 120,922 shares in the company, valued at approximately $3,254,011.02. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by insiders.
About GameStop Corp.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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