UMB Bank n.a. Purchases 1,831 Shares of GameStop Corp. (NYSE:GME)

UMB Bank n.a. grew its holdings in GameStop Corp. (NYSE:GME) by 100.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,651 shares of the company’s stock after acquiring an additional 1,831 shares during the period. UMB Bank n.a.’s holdings in GameStop were worth $81,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of GameStop by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock valued at $113,146,000 after acquiring an additional 107,354 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of GameStop by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock valued at $80,401,000 after purchasing an additional 60,673 shares during the period. Swiss National Bank lifted its holdings in shares of GameStop by 5.5% in the 4th quarter. Swiss National Bank now owns 834,228 shares of the company’s stock worth $26,145,000 after buying an additional 43,700 shares during the period. Slate Path Capital LP bought a new position in GameStop during the 4th quarter worth about $60,361,000. Finally, Handelsbanken Fonder AB increased its holdings in GameStop by 37.4% during the fourth quarter. Handelsbanken Fonder AB now owns 109,900 shares of the company’s stock valued at $3,444,000 after buying an additional 29,900 shares during the period. 29.21% of the stock is owned by institutional investors.

GameStop Stock Performance

Shares of NYSE GME opened at $22.18 on Friday. GameStop Corp. has a 1 year low of $18.73 and a 1 year high of $35.81. The company’s fifty day moving average price is $27.96 and its 200 day moving average price is $27.35. The company has a market capitalization of $9.92 billion, a PE ratio of 123.20 and a beta of -0.69.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.13. The company had revenue of $732.40 million during the quarter, compared to analysts’ expectations of $754.23 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wedbush reiterated an “underperform” rating and issued a $13.50 target price on shares of GameStop in a report on Wednesday. Wall Street Zen upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th.

Insider Transactions at GameStop

In other GameStop news, CEO Ryan Cohen bought 500,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. The trade was a 1.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alain Attal acquired 10,000 shares of GameStop stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the acquisition, the director now owns 572,464 shares in the company, valued at $14,740,948. This trade represents a 1.78% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 515,000 shares of company stock valued at $11,140,200 over the last ninety days. Insiders own 12.28% of the company’s stock.

GameStop Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.