GameStop Corp. (GME) Stake Raised by Legal & General Group Plc

Legal & General Group Plc increased its stake in GameStop Corp. (NYSE:GME) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,835 shares of the company’s stock after buying an additional 13,821 shares during the quarter. Legal & General Group Plc owned approximately 0.22% of GameStop worth $4,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GME. Arizona State Retirement System lifted its holdings in GameStop by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 42,700 shares of the company’s stock valued at $923,000 after purchasing an additional 300 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in GameStop by 2.2% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 17,947 shares of the company’s stock valued at $477,000 after purchasing an additional 391 shares during the last quarter. Comerica Bank lifted its holdings in GameStop by 0.5% during the 2nd quarter. Comerica Bank now owns 81,400 shares of the company’s stock valued at $1,693,000 after purchasing an additional 423 shares during the last quarter. HighTower Advisors LLC lifted its holdings in GameStop by 0.8% during the 2nd quarter. HighTower Advisors LLC now owns 119,031 shares of the company’s stock valued at $2,571,000 after purchasing an additional 936 shares during the last quarter. Finally, Point View Wealth Management Inc. lifted its holdings in GameStop by 6.7% during the 2nd quarter. Point View Wealth Management Inc. now owns 16,695 shares of the company’s stock valued at $361,000 after purchasing an additional 1,053 shares during the last quarter.

GameStop Corp. (NYSE:GME) opened at $18.39 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1,890.34, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of 0.37 and a beta of 1.26. GameStop Corp. has a 12-month low of $15.85 and a 12-month high of $26.68.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.11. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GameStop had a return on equity of 16.50% and a net margin of 3.98%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. sell-side analysts forecast that GameStop Corp. will post 3.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.27%. The ex-dividend date of this dividend was Thursday, November 30th. GameStop’s payout ratio is 44.31%.

GME has been the subject of several research reports. Oppenheimer reaffirmed a “hold” rating on shares of GameStop in a report on Wednesday, November 22nd. Loop Capital reaffirmed a “buy” rating and set a $28.00 price target on shares of GameStop in a report on Wednesday, November 22nd. Benchmark reaffirmed a “sell” rating and set a $15.00 price target (down previously from $18.00) on shares of GameStop in a report on Wednesday, November 22nd. ValuEngine raised GameStop from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Bank of America reaffirmed a “hold” rating and set a $23.00 price target on shares of GameStop in a report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.47.

In other GameStop news, Director Stephanie M. Shern sold 4,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $17.91, for a total transaction of $71,640.00. Following the transaction, the director now owns 13,474 shares in the company, valued at approximately $241,319.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by company insiders.

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About GameStop

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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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