GameStop Corp. (NYSE:GME) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in GameStop Corp. (NYSE:GME) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 310,028 shares of the company’s stock after purchasing an additional 6,202 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of GameStop worth $9,716,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of GameStop during the third quarter worth about $285,000. JPMorgan Chase & Co. increased its stake in GameStop by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company’s stock worth $17,750,000 after buying an additional 244,339 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 acquiring an additional 1,414 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of GameStop in the fourth quarter valued at approximately $376,000. Finally, Christensen King & Associates Investment Services Inc. increased its position in shares of GameStop by 1.9% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after purchasing an additional 518 shares in the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

GameStop Stock Performance

Shares of GameStop stock opened at $26.60 on Tuesday. The business’s 50 day moving average price is $24.88 and its 200 day moving average price is $26.53. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 147.79 and a beta of -0.76. GameStop Corp. has a one year low of $13.62 and a one year high of $64.83.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was down 28.5% compared to the same quarter last year. On average, analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a research report on Wednesday, March 26th.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the transaction, the insider now owns 29,777 shares of the company’s stock, valued at $670,875.81. This trade represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Cohen purchased 500,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were bought at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the transaction, the chief executive officer now owns 37,347,842 shares of the company’s stock, valued at approximately $804,845,995.10. The trade was a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 515,000 shares of company stock valued at $11,140,200 in the last 90 days. Company insiders own 12.28% of the company’s stock.

GameStop 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.