Pacer Advisors Inc. Purchases 180,356 Shares of GameStop Corp. $GME

Pacer Advisors Inc. increased its holdings in GameStop Corp. (NYSE:GME) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,112,535 shares of the company’s stock after purchasing an additional 180,356 shares during the quarter. Pacer Advisors Inc. owned approximately 0.25% of GameStop worth $22,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GME. Northwestern Mutual Wealth Management Co. lifted its holdings in GameStop by 308.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock worth $26,000 after buying an additional 732 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after acquiring an additional 886 shares during the last quarter. Advisory Services Network LLC purchased a new position in GameStop in the third quarter worth about $39,000. Los Angeles Capital Management LLC bought a new position in GameStop in the 4th quarter valued at approximately $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in GameStop during the 4th quarter valued at about $54,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Stock Down 0.4%

Shares of GME opened at $21.44 on Friday. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 16.24 and a beta of 1.77. GameStop Corp. has a 52 week low of $19.93 and a 52 week high of $28.10. The stock’s 50-day moving average price is $22.96 and its 200-day moving average price is $22.90. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. The firm had revenue of $835.30 million during the quarter, compared to analysts’ expectations of $766.63 million. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 7,210 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the completion of the transaction, the insider directly owned 101,014 shares in the company, valued at approximately $2,317,261.16. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 3,912 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $23.19, for a total value of $90,719.28. Following the transaction, the general counsel directly owned 115,230 shares of the company’s stock, valued at $2,672,183.70. The trade was a 3.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,331 shares of company stock valued at $421,491. 9.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GME shares. Wall Street Zen raised shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.