Masso Torrence Wealth Management Inc. Takes Position in GameStop Corp. (NYSE:GME)

Masso Torrence Wealth Management Inc. bought a new stake in shares of GameStop Corp. (NYSE:GME) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,000 shares of the company’s stock, valued at approximately $251,000.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of GameStop during the fourth quarter worth about $51,000. Foundations Investment Advisors LLC acquired a new stake in GameStop in the 4th quarter worth about $878,000. Pacer Advisors Inc. increased its stake in GameStop by 4.9% during the 4th quarter. Pacer Advisors Inc. now owns 60,085 shares of the company’s stock worth $1,883,000 after buying an additional 2,791 shares in the last quarter. KBC Group NV raised its holdings in shares of GameStop by 56.9% during the fourth quarter. KBC Group NV now owns 17,596 shares of the company’s stock valued at $551,000 after acquiring an additional 6,382 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of GameStop by 11.1% in the fourth quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock valued at $177,000 after acquiring an additional 566 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction 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 completion of the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

GameStop Price Performance

Shares of NYSE GME opened at $27.62 on Wednesday. The company has a 50 day simple moving average of $29.56 and a 200-day simple moving average of $25.08. The company has a market capitalization of $12.34 billion, a P/E ratio of 152.43 and a beta of -0.02. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, research analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

GME has been the subject of several research reports. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research report on Friday, December 6th.

About GameStop

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.