15,206 Shares in GameStop Corp. $GME Acquired by SVB Wealth LLC

Key Points

• SVB Wealth LLC has acquired 15,206 shares of GameStop Corp. valued at approximately $339,000 in Q1, marking a significant investment in the company.
• GameStop reported earnings of $0.17 EPS, exceeding estimates, although its revenue declined by 16.9% compared to the previous year, totaling $732.40 million.
• The stock currently has an average rating of "Sell" from analysts with a price target set at $13.50 following a downgrade by Wedbush.

SVB Wealth LLC purchased a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,206 shares of the company's stock, valued at approximately $339,000.

Several other institutional investors have also recently made changes to their positions in GME. UMB Bank n.a. boosted its holdings in shares of GameStop by 100.6% in the 1st quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock valued at $81,000 after buying an additional 1,831 shares during the last quarter. US Bancorp DE grew its position in shares of GameStop by 92.5% in the 1st quarter. US Bancorp DE now owns 3,726 shares of the company's stock valued at $83,000 after acquiring an additional 1,790 shares during the period. Bogart Wealth LLC increased its stake in shares of GameStop by 100.0% during the 1st quarter. Bogart Wealth LLC now owns 4,000 shares of the company's stock worth $89,000 after purchasing an additional 2,000 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of GameStop by 31.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company's stock worth $93,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of GameStop by 47.6% in the 1st quarter. CWM LLC now owns 4,353 shares of the company's stock valued at $97,000 after purchasing an additional 1,404 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total value of $267,309.90. Following the completion of the sale, the general counsel owned 116,781 shares in the company, valued at $2,823,764.58. The trade was a 8.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 13,075 shares of company stock worth $315,685 over the last 90 days. 8.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wedbush upgraded GameStop to a "strong sell" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell" and an average target price of $13.50.

GameStop Stock Performance

NYSE:GME traded up $0.31 during mid-day trading on Thursday, hitting $22.81. 6,465,951 shares of the stock were exchanged, compared to its average volume of 10,822,394. The firm's 50-day simple moving average is $23.11 and its 200 day simple moving average is $25.14. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 49.58 and a beta of -0.72. GameStop Corp. has a fifty-two week low of $19.31 and a fifty-two week high of $35.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.13. The firm had revenue of $732.40 million for the quarter, compared to analysts' expectations of $754.23 million. GameStop had a return on equity of 5.25% and a net margin of 5.67%.The company's quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS. As a group, equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

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.