GameStop Corp. (NYSE:GME) Shares Sold by Selway Asset Management

Selway Asset Management trimmed its holdings in shares of GameStop Corp. (NYSE:GME) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,500 shares of the company’s stock after selling 2,000 shares during the period. Selway Asset Management’s holdings in GameStop were worth $893,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after acquiring an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in GameStop during the fourth quarter worth approximately $37,000. R Squared Ltd acquired a new stake in shares of GameStop during the 4th quarter worth $51,000. UMB Bank n.a. increased its stake in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after acquiring an additional 682 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after purchasing an additional 520 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GME shares. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

GameStop Price Performance

Shares of GME opened at $22.57 on Thursday. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The stock’s 50-day moving average is $25.06 and its two-hundred day moving average is $25.70. The stock has a market cap of $10.09 billion, a PE ratio of 125.40 and a beta of -0.29.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $0.21 EPS. GameStop’s revenue for the quarter was down 28.5% on a year-over-year basis. On average, research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, 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 value of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

GameStop 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.