Coastline Trust Co bought a new stake in Gamestop Corporation (NYSE:GME) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,020 shares of the company’s stock, valued at approximately $303,000.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Gamestop Corporation by 11,239.8% in the first quarter. BlackRock Inc. now owns 8,262,281 shares of the company’s stock valued at $186,314,000 after acquiring an additional 8,189,420 shares during the last quarter. State Street Corp increased its position in shares of Gamestop Corporation by 1.1% in the first quarter. State Street Corp now owns 2,973,980 shares of the company’s stock valued at $67,071,000 after acquiring an additional 32,494 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Gamestop Corporation by 80.1% in the first quarter. Oppenheimer & Co. Inc. now owns 15,346 shares of the company’s stock valued at $347,000 after acquiring an additional 6,826 shares during the last quarter. Eqis Capital Management Inc. increased its position in shares of Gamestop Corporation by 6.3% in the second quarter. Eqis Capital Management Inc. now owns 21,859 shares of the company’s stock valued at $472,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Paradice Investment Management LLC increased its position in shares of Gamestop Corporation by 13.2% in the second quarter. Paradice Investment Management LLC now owns 942,263 shares of the company’s stock valued at $20,362,000 after acquiring an additional 110,100 shares during the last quarter.
Shares of Gamestop Corporation (NYSE:GME) opened at 19.53 on Wednesday. The stock’s 50 day moving average price is $20.71 and its 200-day moving average price is $22.23. Gamestop Corporation has a one year low of $18.47 and a one year high of $28.58. The company has a market cap of $1.98 billion, a PE ratio of 5.88 and a beta of 1.19.
Gamestop Corporation (NYSE:GME) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). Gamestop Corporation had a return on equity of 16.66% and a net margin of 3.90%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts expect that Gamestop Corporation will post $3.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 7.78%. Gamestop Corporation’s payout ratio is currently 45.65%.
A number of research firms recently issued reports on GME. ValuEngine downgraded Gamestop Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Gamestop Corporation in a research report on Thursday, May 25th. Vetr downgraded Gamestop Corporation from a “strong-buy” rating to a “strong sell” rating and set a $16.96 target price on the stock. in a research report on Monday, June 5th. Credit Suisse Group set a $20.00 target price on Gamestop Corporation and gave the company a “hold” rating in a research report on Sunday, May 28th. Finally, Zacks Investment Research raised Gamestop Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 29th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $24.16.
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Gamestop Corporation 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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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