Federated Hermes Inc. Increases Holdings in GameStop Corp. (NYSE:GME)

Federated Hermes Inc. lifted its holdings in GameStop Corp. (NYSE:GME – Get Rating) by 282.8% in the 3rd quarter, Holdings Channel reports. The firm owned 40,808 shares of the company’s stock after acquiring an additional 30,148 shares during the period. Federated Hermes Inc.’s holdings in GameStop were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP raised its stake in shares of GameStop by 50.7% in the third quarter. First Trust Advisors LP now owns 52,408 shares of the company’s stock worth $1,317,000 after purchasing an additional 17,638 shares during the last quarter. Bank of New York Mellon Corp increased its position in GameStop by 301.4% during the third quarter. Bank of New York Mellon Corp now owns 2,190,263 shares of the company’s stock valued at $55,042,000 after acquiring an additional 1,644,587 shares during the last quarter. BlackRock Inc. increased its position in GameStop by 306.1% during the third quarter. BlackRock Inc. now owns 20,957,141 shares of the company’s stock valued at $526,653,000 after acquiring an additional 15,796,817 shares during the last quarter. Coatue Management LLC increased its position in GameStop by 300.0% during the third quarter. Coatue Management LLC now owns 218,788 shares of the company’s stock valued at $5,498,000 after acquiring an additional 164,091 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in GameStop by 115.5% during the third quarter. Macquarie Group Ltd. now owns 3,720 shares of the company’s stock valued at $173,000 after acquiring an additional 1,994 shares during the last quarter. Hedge funds and other institutional investors own 25.57% of the company’s stock.

Analyst Ratings Changes

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

GameStop Stock Performance

NYSE GME opened at $16.75 on Tuesday. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -10.00 and a beta of -0.19. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $19.84 and a 200-day moving average price of $23.34. GameStop Corp. has a twelve month low of $15.41 and a twelve month high of $49.85.

GameStop 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.