The Manufacturers Life Insurance Company raised its position in GameStop Corp. (NYSE:GME) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 168,325 shares of the company’s stock after purchasing an additional 18,825 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in GameStop were worth $3,022,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in GameStop in the 4th quarter worth about $104,000. Macquarie Group Ltd. purchased a new stake in GameStop in the 3rd quarter worth about $112,000. SeaCrest Wealth Management LLC purchased a new stake in GameStop in the 4th quarter worth about $140,000. Kovack Advisors Inc. purchased a new stake in GameStop in the 4th quarter worth about $181,000. Finally, Unison Advisors LLC purchased a new stake in GameStop in the 4th quarter worth about $198,000.
A number of research firms recently weighed in on GME. Oppenheimer reissued a “hold” rating on shares of GameStop in a research report on Wednesday, November 22nd. ValuEngine raised shares of GameStop from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Loop Capital reaffirmed a “buy” rating and set a $28.00 target price on shares of GameStop in a research report on Wednesday, November 22nd. Vetr lowered shares of GameStop from a “strong-buy” rating to a “hold” rating and set a $16.58 target price on the stock. in a research report on Friday, November 17th. Finally, Bank of America reaffirmed a “hold” rating and set a $23.00 target price on shares of GameStop in a research report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $22.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Monday, March 5th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.74%. The ex-dividend date is Friday, March 2nd. GameStop’s payout ratio is 44.31%.
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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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