Crossmark Global Holdings Inc. Increases Stake in GameStop Corp. (NYSE:GME)

Crossmark Global Holdings Inc. raised its stake in shares of GameStop Corp. (NYSE:GME – Get Rating) by 299.3% in the third quarter, Holdings Channel reports. The institutional investor owned 21,644 shares of the company’s stock after buying an additional 16,224 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in GameStop were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kestra Advisory Services LLC grew its holdings in GameStop by 181.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 8,094 shares of the company’s stock valued at $203,000 after buying an additional 5,214 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of GameStop during the 3rd quarter valued at about $4,216,000. Creative Financial Designs Inc. ADV boosted its position in shares of GameStop by 300.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,032 shares of the company’s stock valued at $26,000 after acquiring an additional 774 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of GameStop by 300.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 12,644 shares of the company’s stock valued at $318,000 after acquiring an additional 9,483 shares during the last quarter. Finally, Camelot Portfolios LLC boosted its position in shares of GameStop by 258.1% during the 3rd quarter. Camelot Portfolios LLC now owns 17,080 shares of the company’s stock valued at $429,000 after acquiring an additional 12,310 shares during the last quarter. Hedge funds and other institutional investors own 25.57% of the company’s stock.

GameStop Stock Performance

NYSE:GME opened at $19.61 on Monday. The business has a 50 day moving average of $21.97 and a 200 day moving average of $27.47. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -11.71 and a beta of -0.24. GameStop Corp. has a 1-year low of $15.41 and a 1-year high of $49.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GME shares. Wedbush dropped their price target on GameStop from $6.00 to $5.30 and set an “underperform” rating for the company in a research report on Thursday, December 8th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Thursday, January 5th.

GameStop Company Profile

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.