Engineers Gate Manager LP Takes Position in GameStop Corp. (GME)
Engineers Gate Manager LP bought a new position in GameStop Corp. (NYSE:GME) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 33,319 shares of the company’s stock, valued at approximately $598,000.
Other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in GameStop during the 4th quarter valued at $104,000. Macquarie Group Ltd. purchased a new position in GameStop during the 3rd quarter valued at $112,000. Unison Advisors LLC purchased a new position in GameStop during the 4th quarter valued at $198,000. Atria Investments LLC purchased a new position in GameStop during the 4th quarter valued at $218,000. Finally, Meridian Wealth Management LLC purchased a new position in GameStop during the 3rd quarter valued at $276,000.
In other news, Director Stephanie M. Shern sold 4,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $17.91, for a total value of $71,640.00. Following the sale, the director now owns 13,474 shares in the company, valued at $241,319.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.
GameStop (NYSE:GME) last posted its quarterly earnings results 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.98 billion. GameStop had a return on equity of 16.50% and a net margin of 3.98%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. equities analysts predict that GameStop Corp. will post 3.23 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on GME shares. Credit Suisse Group set a $20.00 price objective on GameStop and gave the company a “hold” rating in a report on Saturday, November 25th. Zacks Investment Research raised GameStop from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, October 25th. ValuEngine raised GameStop from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Vetr lowered GameStop from a “strong-buy” rating to a “hold” rating and set a $16.58 price target for the company. in a research report on Friday, November 17th. Finally, Wedbush set a $25.00 price target on GameStop and gave the stock a “buy” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $22.23.
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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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