Van ECK Associates Corp Reduces Position in GameStop Corp. (NYSE:GME)

Van ECK Associates Corp cut its holdings in shares of GameStop Corp. (NYSE:GME) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,429,345 shares of the company’s stock after selling 396,492 shares during the period. Van ECK Associates Corp owned approximately 0.32% of GameStop worth $44,795,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of GameStop during the fourth quarter valued at $37,000. R Squared Ltd purchased a new stake in shares of GameStop during the fourth quarter valued at $51,000. UMB Bank n.a. boosted its position in shares of GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after buying an additional 682 shares during the last quarter. CWM LLC boosted its position in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after buying an additional 529 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of GameStop by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after buying an additional 1,414 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GME shares. Wedbush reaffirmed an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Up 1.4 %

NYSE GME opened at $26.35 on Friday. The stock’s 50-day moving average price is $28.99 and its 200-day moving average price is $25.13. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The company has a market capitalization of $11.77 billion, a P/E ratio of 146.37 and a beta of -0.11.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. Research analysts anticipate that GameStop Corp. will post 0.08 EPS 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.