Charles Schwab Investment Management Inc. Raises Position in GameStop Corp. (NYSE:GME)

Charles Schwab Investment Management Inc. lifted its position in shares of GameStop Corp. (NYSE:GME) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,502,910 shares of the company’s stock after acquiring an additional 646,488 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.82% of GameStop worth $80,322,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank increased its position in GameStop by 46.0% during the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock worth $18,127,000 after purchasing an additional 249,100 shares during the period. Algert Global LLC purchased a new stake in shares of GameStop in the second quarter valued at approximately $1,003,000. Mutual of America Capital Management LLC grew its holdings in GameStop by 35.9% during the third quarter. Mutual of America Capital Management LLC now owns 209,616 shares of the company’s stock worth $4,806,000 after acquiring an additional 55,346 shares during the period. Amalgamated Bank raised its position in GameStop by 35.1% in the third quarter. Amalgamated Bank now owns 184,258 shares of the company’s stock worth $4,225,000 after acquiring an additional 47,894 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in GameStop in the second quarter valued at $9,577,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the sale, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. This represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the sale, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock worth $481,000 over the last ninety days. 12.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

GME has been the subject of a number of research analyst reports. Wedbush cut their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, September 11th. StockNews.com raised shares of GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Stock Performance

Shares of GME stock opened at $30.89 on Thursday. The stock has a market cap of $13.17 billion, a PE ratio of 237.63 and a beta of -0.13. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The stock has a fifty day moving average price of $23.40 and a 200 day moving average price of $24.01.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same period in the previous year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. As a group, equities research analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

GameStop Company 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.