GameStop Corp. (GME) Position Trimmed by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in shares of GameStop Corp. (NYSE:GME) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,800 shares of the company’s stock after selling 7,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in GameStop were worth $607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GME. Metropolitan Life Insurance Co. NY boosted its stake in GameStop by 12.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 32,677 shares of the company’s stock valued at $476,000 after acquiring an additional 3,496 shares during the last quarter. Raymond James & Associates boosted its stake in GameStop by 22.0% during the 2nd quarter. Raymond James & Associates now owns 21,982 shares of the company’s stock valued at $320,000 after acquiring an additional 3,959 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in GameStop by 43.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,750 shares of the company’s stock valued at $215,000 after acquiring an additional 4,450 shares during the last quarter. United Services Automobile Association boosted its stake in GameStop by 11.7% during the 2nd quarter. United Services Automobile Association now owns 51,583 shares of the company’s stock valued at $752,000 after acquiring an additional 5,406 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in GameStop by 20.0% during the 2nd quarter. Eqis Capital Management Inc. now owns 35,097 shares of the company’s stock valued at $511,000 after acquiring an additional 5,844 shares during the last quarter.

GameStop stock opened at $14.53 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 1.45. GameStop Corp. has a 1 year low of $12.20 and a 1 year high of $20.31. The stock has a market capitalization of $1.40 billion, a PE ratio of 4.59 and a beta of 1.28.

GameStop (NYSE:GME) last posted its quarterly earnings results on Thursday, September 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). GameStop had a positive return on equity of 13.78% and a negative net margin of 0.48%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $0.15 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts expect that GameStop Corp. will post 3.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 18th were given a $0.38 dividend. The ex-dividend date was Monday, September 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 10.46%. GameStop’s payout ratio is currently 45.51%.

GME has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of GameStop in a research note on Monday, July 9th. They set a “buy” rating and a $18.00 price objective on the stock. Wedbush set a $19.00 price objective on shares of GameStop and gave the company a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research note on Monday, September 10th. Loop Capital reiterated a “hold” rating and set a $16.00 price objective on shares of GameStop in a research note on Monday, September 10th. Finally, Credit Suisse Group set a $15.00 price objective on shares of GameStop and gave the company a “hold” rating in a research note on Friday, September 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.73.

About GameStop

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

Further Reading: Dow Jones Industrial Average (DJIA)

Institutional Ownership by Quarter for GameStop (NYSE:GME)

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