BNP Paribas Arbitrage SA reduced its position in shares of GameStop Corp. (NYSE:GME) by 51.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 175,864 shares of the company’s stock after selling 185,499 shares during the period. BNP Paribas Arbitrage SA owned 0.17% of GameStop Corp. worth $4,852,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GME. Macquarie Group Ltd. boosted its position in shares of GameStop Corp. by 30.9% in the second quarter. Macquarie Group Ltd. now owns 12,700 shares of the company’s stock worth $338,000 after buying an additional 3,000 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in shares of GameStop Corp. by 349.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,947 shares of the company’s stock worth $477,000 after buying an additional 13,952 shares during the period. Mason Street Advisors LLC bought a new position in shares of GameStop Corp. during the second quarter worth about $1,260,000. Amalgamated Bank boosted its position in shares of GameStop Corp. by 5.8% in the second quarter. Amalgamated Bank now owns 13,923 shares of the company’s stock worth $433,000 after buying an additional 760 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of GameStop Corp. by 1.0% in the second quarter. Fiera Capital Corp now owns 68,130 shares of the company’s stock worth $1,811,000 after buying an additional 700 shares during the period.
Shares of GameStop Corp. (NYSE:GME) traded down 0.92% during trading on Friday, hitting $25.82. 2,313,321 shares of the stock were exchanged. GameStop Corp. has a 12-month low of $20.10 and a 12-month high of $35.83. The stock’s 50 day moving average is $23.91 and its 200-day moving average is $27.40. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 6.81 and a beta of 1.16.
GameStop Corp. (NYSE:GME) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.72%. The business had revenue of $1.96 billion for the quarter. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that GameStop Corp. will post $3.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.73%. GameStop Corp.’s dividend payout ratio is currently 39.47%.
A number of brokerages have issued reports on GME. Vetr cut shares of GameStop Corp. from a “buy” rating to a “sell” rating and set a $25.08 target price for the company. in a report on Thursday. Robert W. Baird reaffirmed an “outperform” rating and issued a $25.00 target price on shares of GameStop Corp. in a report on Wednesday. Wedbush set a $30.00 target price on shares of GameStop Corp. and gave the company a “buy” rating in a report on Saturday, November 19th. Zacks Investment Research lowered shares of GameStop Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday, November 14th. Finally, Telsey Advisory Group lowered their price target on shares of GameStop Corp. from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.90.
In other news, EVP Michael Mauler purchased 10,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were acquired at an average price of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the acquisition, the executive vice president now directly owns 120,922 shares of the company’s stock, valued at $3,254,011.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.
About GameStop Corp.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.