Cadence Capital Management LLC Has $1.38 Million Stake in GameStop Corp. (GME)
Cadence Capital Management LLC trimmed its holdings in shares of GameStop Corp. (NYSE:GME) by 35.1% during the fourth quarter, Holdings Channel reports. The fund owned 76,941 shares of the company’s stock after selling 41,694 shares during the quarter. Cadence Capital Management LLC’s holdings in GameStop were worth $1,381,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. purchased a new stake in shares of GameStop during the third quarter worth about $112,000. State of Alaska Department of Revenue purchased a new stake in shares of GameStop during the fourth quarter worth about $104,000. SeaCrest Wealth Management LLC purchased a new stake in shares of GameStop during the fourth quarter worth about $140,000. Kovack Advisors Inc. purchased a new stake in shares of GameStop during the fourth quarter worth about $181,000. Finally, Unison Advisors LLC purchased a new stake in shares of GameStop during the fourth quarter worth about $198,000.
GME has been the topic of a number of analyst reports. Zacks Investment Research raised GameStop from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, October 25th. SunTrust Banks reissued a “buy” rating and issued a $25.00 price objective on shares of GameStop in a report on Tuesday, October 17th. Wedbush set a $25.00 price objective on GameStop and gave the company a “buy” rating in a report on Thursday, November 16th. Loop Capital reissued a “buy” rating and issued a $28.00 price objective on shares of GameStop in a report on Wednesday, November 22nd. Finally, Robert W. Baird reissued a “buy” rating and issued a $23.00 price objective on shares of GameStop in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $22.42.
Shares of GameStop Corp. (GME) opened at $16.17 on Monday. The company has a quick ratio of 0.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1,638.09, a PE ratio of 4.71, a P/E/G ratio of 0.32 and a beta of 1.25. GameStop Corp. has a fifty-two week low of $15.10 and a fifty-two week high of $26.68.
GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.11. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. GameStop had a return on equity of 16.50% and a net margin of 3.98%. GameStop’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. equities analysts anticipate that GameStop Corp. will post 3.23 EPS for the current year.
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GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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