GameStop Corp. $GME Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of GameStop Corp. (NYSE:GME) by 13,283.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 129,682 shares of the company’s stock after buying an additional 128,713 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in GameStop were worth $2,604,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in GameStop by 2.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 78,290 shares of the company’s stock valued at $1,572,000 after buying an additional 2,100 shares in the last quarter. Wealthfront Advisers LLC increased its position in GameStop by 15.8% during the 4th quarter. Wealthfront Advisers LLC now owns 25,135 shares of the company’s stock valued at $505,000 after buying an additional 3,423 shares in the last quarter. Pictet Asset Management Holding SA increased its position in GameStop by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 63,002 shares of the company’s stock valued at $1,265,000 after buying an additional 2,483 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in GameStop by 1.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,122 shares of the company’s stock valued at $1,729,000 after buying an additional 1,536 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new position in GameStop during the 4th quarter valued at about $299,000. 29.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 7,210 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total value of $165,397.40. Following the transaction, the insider owned 101,014 shares in the company, valued at $2,317,261.16. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 7,209 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,374.46. Following the completion of the transaction, the general counsel owned 97,946 shares in the company, valued at approximately $2,246,881.24. This trade represents a 6.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 18,331 shares of company stock worth $421,491. Company insiders own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on GME shares. Wall Street Zen downgraded GameStop from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings upgraded GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $13.50.

GameStop Stock Performance

Shares of GME stock opened at $21.92 on Tuesday. The company has a market capitalization of $9.84 billion, a P/E ratio of 29.23 and a beta of 1.84. The business’s 50 day moving average is $23.43 and its two-hundred day moving average is $22.82. The company has a current ratio of 15.30, a quick ratio of 14.68 and a debt-to-equity ratio of 0.76. GameStop Corp. has a 12-month low of $19.93 and a 12-month high of $35.81.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.47 billion. GameStop had a return on equity of 12.47% and a net margin of 11.53%.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.