State of Alaska Department of Revenue boosted its holdings in shares of GameStop Corp. (NYSE:GME – Get Rating) by 295.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,092 shares of the company’s stock after purchasing an additional 26,209 shares during the period. State of Alaska Department of Revenue’s holdings in GameStop were worth $881,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in GameStop by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 5,958,493 shares of the company’s stock valued at $992,566,000 after purchasing an additional 26,656 shares in the last quarter. State Street Corp increased its stake in shares of GameStop by 1.0% in the 2nd quarter. State Street Corp now owns 1,700,291 shares of the company’s stock valued at $207,946,000 after buying an additional 16,028 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of GameStop by 24.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 427,588 shares of the company’s stock valued at $71,228,000 after buying an additional 83,218 shares during the period. Renaissance Technologies LLC increased its stake in shares of GameStop by 11,704.3% in the 1st quarter. Renaissance Technologies LLC now owns 306,912 shares of the company’s stock valued at $51,125,000 after buying an additional 304,312 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of GameStop by 15.9% in the 2nd quarter. Principal Financial Group Inc. now owns 244,022 shares of the company’s stock valued at $29,844,000 after buying an additional 33,400 shares during the period. 25.57% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Wedbush lowered their target price on GameStop from $6.00 to $5.30 and set an “underperform” rating for the company in a research note on Thursday, December 8th. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday.
GameStop Stock Performance
GameStop (NYSE:GME – Get Rating) last released its quarterly earnings results on Wednesday, December 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). GameStop had a negative net margin of 8.54% and a negative return on equity of 35.44%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the business earned ($0.35) EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, research analysts forecast that GameStop Corp. will post -1.34 earnings per share for the current year.
GameStop Company Profile
GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.
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