Meeder Asset Management Inc. increased its position in shares of GameStop Corp. (NYSE:GME) by 2,168.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,090 shares of the company’s stock after acquiring an additional 13,469 shares during the period. Meeder Asset Management Inc.’s holdings in GameStop were worth $76,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GME. Qube Research & Technologies Ltd purchased a new stake in shares of GameStop in the second quarter valued at $1,905,000. Swiss National Bank grew its position in shares of GameStop by 2.2% in the second quarter. Swiss National Bank now owns 189,782 shares of the company’s stock valued at $1,038,000 after purchasing an additional 4,000 shares during the period. Aperio Group LLC grew its position in shares of GameStop by 111.4% in the second quarter. Aperio Group LLC now owns 143,655 shares of the company’s stock valued at $786,000 after purchasing an additional 75,699 shares during the period. SG Americas Securities LLC purchased a new stake in shares of GameStop in the second quarter valued at $435,000. Finally, Strs Ohio purchased a new stake in shares of GameStop in the second quarter valued at $79,000. Institutional investors own 98.68% of the company’s stock.
A number of equities research analysts have recently commented on the company. Bank of America lowered their price objective on GameStop from $4.00 to $2.50 and set an “underperform” rating for the company in a research report on Tuesday, August 20th. Benchmark reiterated a “sell” rating and issued a $5.00 target price (down previously from $9.00) on shares of GameStop in a report on Wednesday, June 5th. ValuEngine upgraded GameStop from a “sell” rating to a “hold” rating in a report on Sunday, June 9th. Ascendiant Capital Markets cut GameStop from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Wednesday, June 5th. Finally, Loop Capital set a $7.00 target price on GameStop and gave the company a “hold” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.95.
GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.64 billion. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that GameStop Corp. will post 1.5 EPS for the current year.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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