Midas Management Corp held its position in GameStop Corp. (NYSE:GME) during the second quarter, Holdings Channel reports. The institutional investor owned 51,500 shares of the company’s stock at the end of the second quarter. Midas Management Corp’s holdings in GameStop Corp. were worth $1,369,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in GameStop Corp. during the first quarter valued at $117,000. Americafirst Capital Management LLC purchased a new position in GameStop Corp. during the second quarter valued at $150,000. BlueMountain Capital Management LLC purchased a new position in GameStop Corp. during the first quarter valued at $156,000. Seven Eight Capital LLC boosted its position in GameStop Corp. by 95.3% in the first quarter. Seven Eight Capital LLC now owns 5,401 shares of the company’s stock valued at $171,000 after buying an additional 2,635 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in GameStop Corp. during the first quarter valued at $390,000.
Shares of GameStop Corp. (NYSE:GME) traded down 0.35% during midday trading on Friday, reaching $25.38. The company had a trading volume of 3,136,105 shares. GameStop Corp. has a one year low of $24.33 and a one year high of $47.62. The firm has a market capitalization of $2.64 billion, a P/E ratio of 6.69 and a beta of 1.08. The company has a 50 day moving average price of $27.64 and a 200-day moving average price of $29.11.
GameStop Corp. (NYSE:GME) last posted its earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $0.31 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts anticipate that GameStop Corp. will post $3.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Friday, September 9th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 annualized dividend and a dividend yield of 5.83%. GameStop Corp.’s dividend payout ratio is currently 39.05%.
GME has been the subject of several recent research reports. Vetr cut GameStop Corp. from a “strong-buy” rating to a “buy” rating and set a $33.63 price objective for the company. in a research report on Monday, July 18th. Bank of America Corp. reaffirmed a “buy” rating on shares of GameStop Corp. in a research report on Sunday, July 17th. Wedbush reaffirmed a “buy” rating on shares of GameStop Corp. in a research report on Wednesday, August 17th. TheStreet upgraded GameStop Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Finally, Hilliard Lyons upgraded GameStop Corp. from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $36.71.
In other news, EVP Michael Mauler bought 10,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average price of $26.91 per share, with a total value of $269,100.00. Following the transaction, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.70% of the company’s stock.
GameStop Corp. Company Profile
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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