Rafferty Asset Management LLC Sells 6,102 Shares of GameStop Corp. (NYSE:GME)

Rafferty Asset Management LLC lowered its stake in shares of GameStop Corp. (NYSE:GME) by 20.5% in the fourth quarter, Holdings Channel reports. The firm owned 23,608 shares of the company’s stock after selling 6,102 shares during the period. Rafferty Asset Management LLC’s holdings in GameStop were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GME. UMB Bank n.a. boosted its position in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after purchasing an additional 682 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of GameStop by 2.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after acquiring an additional 523 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of GameStop by 133.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,482 shares of the company’s stock valued at $266,000 after acquiring an additional 4,842 shares during the period. Fifth Third Bancorp boosted its position in shares of GameStop by 11.1% in the fourth quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock valued at $177,000 after acquiring an additional 566 shares during the period. Finally, KBC Group NV boosted its position in shares of GameStop by 56.9% in the fourth quarter. KBC Group NV now owns 17,596 shares of the company’s stock valued at $551,000 after acquiring an additional 6,382 shares during the period. Institutional investors own 29.21% of the company’s stock.

GameStop Trading Up 10.2%

GME opened at $30.92 on Friday. The business has a 50 day moving average of $26.02 and a 200-day moving average of $27.02. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 171.79 and a beta of -0.76. GameStop Corp. has a 1-year low of $17.70 and a 1-year high of $48.00.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Equities analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity at GameStop

In other news, Director Alain Attal bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the purchase, the director now owns 572,464 shares of the company’s stock, valued at $14,740,948. This trade represents a 1.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Cheng bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $21.54 per share, with a total value of $107,700.00. Following the completion of the purchase, the director now directly owns 83,000 shares of the company’s stock, valued at $1,787,820. This represents a 6.41% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 515,000 shares of company stock worth $11,140,200. 12.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GME has been the subject of several research reports. Wall Street Zen raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price objective on GameStop in a research report on Wednesday, March 26th.

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.