Van ECK Associates Corp Decreases Stock Holdings in GameStop Corp. (NYSE:GME)

Van ECK Associates Corp reduced its stake in shares of GameStop Corp. (NYSE:GME) by 21.7% in the fourth quarter, according to its most recent 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 quarter. Van ECK Associates Corp’s holdings in GameStop were worth $44,795,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GME. State Street Corp lifted its stake in shares of GameStop by 38.0% during the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after purchasing an additional 3,070,571 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GameStop by 41.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock worth $144,009,000 after purchasing an additional 1,852,088 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of GameStop by 22.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after purchasing an additional 646,488 shares during the last quarter. Swiss National Bank lifted its stake in shares of 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 last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 244,339 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s 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 transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the insider now owns 31,385 shares in the company, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

GameStop Stock Up 1.4 %

Shares of NYSE:GME opened at $26.35 on Friday. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 146.37 and a beta of -0.11. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The business has a 50-day moving average price of $28.99 and a 200-day moving average price of $25.13.

GameStop (NYSE:GME) last posted its earnings results 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 analyst estimates of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on GME. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush reiterated an “underperform” rating and issued a $10.00 price target on shares of GameStop in a research note on Friday, December 6th.

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.