GameStop Corp. (NYSE:GME) Holdings Raised by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in GameStop Corp. (NYSE:GME – Get Rating) by 377.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,199 shares of the company’s stock after buying an additional 60,253 shares during the quarter. Van ECK Associates Corp’s holdings in GameStop were worth $1,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Walker Asset Management LLC purchased a new stake in GameStop in the 2nd quarter worth approximately $442,000. New York State Teachers Retirement System lifted its position in GameStop by 2.7% in the 2nd quarter. New York State Teachers Retirement System now owns 72,091 shares of the company’s stock worth $8,817,000 after buying an additional 1,898 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in GameStop by 20.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 28,387 shares of the company’s stock worth $3,472,000 after buying an additional 4,725 shares in the last quarter. Texas Permanent School Fund lifted its position in GameStop by 1.9% in the 2nd quarter. Texas Permanent School Fund now owns 44,693 shares of the company’s stock worth $5,466,000 after buying an additional 848 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. increased its stake in shares of GameStop by 63,400.0% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 1,270 shares of the company’s stock worth $155,000 after purchasing an additional 1,268 shares during the last quarter. Hedge funds and other institutional investors own 25.57% of the company’s stock.

GameStop Stock Performance

Shares of GME opened at $20.49 on Friday. The company’s fifty day moving average is $22.43 and its 200-day moving average is $27.84. GameStop Corp. has a 12 month low of $15.41 and a 12 month high of $49.85. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of -12.23 and a beta of -0.24. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02.

GameStop (NYSE:GME – Get Rating) last announced its quarterly earnings results on Wednesday, December 7th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.02). GameStop had a negative return on equity of 35.44% and a negative net margin of 8.54%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned ($0.35) EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts expect that GameStop Corp. will post -1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GME shares. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Thursday, January 5th. Wedbush dropped their price target on shares of GameStop from $6.00 to $5.30 and set an “underperform” rating on the stock in a research note on Thursday, December 8th.

About GameStop

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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.