94,400 Shares in GameStop Corp. (GME) Acquired by GMT Capital Corp
GMT Capital Corp bought a new position in shares of GameStop Corp. (NYSE:GME) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 94,400 shares of the company’s stock, valued at approximately $1,375,000.
Several other institutional investors also recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY lifted its position in shares of GameStop by 12.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 32,677 shares of the company’s stock worth $476,000 after buying an additional 3,496 shares during the period. Raymond James & Associates increased its holdings in GameStop by 22.0% during the 2nd quarter. Raymond James & Associates now owns 21,982 shares of the company’s stock valued at $320,000 after purchasing an additional 3,959 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in GameStop by 43.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,750 shares of the company’s stock valued at $215,000 after purchasing an additional 4,450 shares in the last quarter. Swiss National Bank increased its holdings in GameStop by 2.9% during the 1st quarter. Swiss National Bank now owns 176,482 shares of the company’s stock valued at $2,227,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its holdings in GameStop by 20.0% during the 2nd quarter. Eqis Capital Management Inc. now owns 35,097 shares of the company’s stock valued at $511,000 after purchasing an additional 5,844 shares in the last quarter.
GME has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $18.00 price target on GameStop and gave the company a “buy” rating in a report on Wednesday, September 5th. Wedbush reaffirmed a “buy” rating and set a $19.00 price target on shares of GameStop in a report on Tuesday, May 29th. Zacks Investment Research cut GameStop from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Telsey Advisory Group dropped their price target on GameStop from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Friday, June 1st. Finally, Credit Suisse Group set a $15.00 price target on GameStop and gave the company a “hold” rating in a report on Friday, June 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. GameStop currently has a consensus rating of “Hold” and an average target price of $16.42.
GameStop (NYSE:GME) last released its earnings results on Thursday, September 6th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.61 billion. GameStop had a negative net margin of 0.48% and a positive return on equity of 13.78%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. equities research analysts expect that GameStop Corp. will post 3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 18th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.52 annualized dividend and a dividend yield of 9.15%. GameStop’s dividend payout ratio (DPR) is currently 45.51%.
GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.
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