United Services Automobile Association Purchases New Position in GameStop Corp. (NYSE:GME)

United Services Automobile Association purchased a new stake in shares of GameStop Corp. (NYSE:GME – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,229 shares of the company’s stock, valued at approximately $684,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GME. Vanguard Group Inc. boosted its position in GameStop by 304.8% during the third quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock valued at $607,235,000 after purchasing an additional 18,193,982 shares during the last quarter. BlackRock Inc. boosted 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 purchasing an additional 15,796,817 shares during the last quarter. State Street Corp boosted its position in GameStop by 307.5% during the third quarter. State Street Corp now owns 6,928,945 shares of the company’s stock valued at $174,124,000 after purchasing an additional 5,228,654 shares during the last quarter. Bank of New York Mellon Corp boosted 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 purchasing an additional 1,644,587 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in GameStop by 293.7% during the third quarter. Nuveen Asset Management LLC now owns 825,233 shares of the company’s stock valued at $20,738,000 after purchasing an additional 615,617 shares during the last quarter. Institutional investors own 25.57% of the company’s stock.

Analyst Ratings Changes

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

GameStop Stock Performance

GME opened at $16.91 on Wednesday. GameStop Corp. has a 12-month low of $15.41 and a 12-month high of $49.85. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -10.10 and a beta of -0.19. The business has a 50 day moving average of $19.83 and a 200-day moving average of $23.24. 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 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.