Bank of New York Mellon Corp Sells 110,846 Shares of GameStop Corp. $GME

Key Points

• Bank of New York Mellon cut its GameStop stake by 4.4%, selling 110,846 shares and now owning 2,408,467 shares worth about $58.74 million (≈0.54% of the company).
• GameStop posted an earnings beat (Q: $0.25 EPS vs. $0.19 expected; revenue $972.2M, up 21.8% year-over-year), while shares trade around $21.49 with a 1‑year range of $20.73–$35.81.
• Analysts have a consensus rating of "Reduce" with a $13.50 price target, and insiders sold 11,788 shares last quarter (insiders own 8.58% of the company; institutional ownership is ~29.2%).

Bank of New York Mellon Corp lowered its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,408,467 shares of the company's stock after selling 110,846 shares during the quarter. Bank of New York Mellon Corp owned about 0.54% of GameStop worth $58,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new stake in GameStop during the 2nd quarter valued at approximately $45,000. Hantz Financial Services Inc. raised its position in shares of GameStop by 1,523.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company's stock worth $52,000 after acquiring an additional 1,996 shares in the last quarter. US Bancorp DE lifted its stake 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 purchasing an additional 1,790 shares during the period. Bogart Wealth LLC lifted its stake in shares of GameStop by 100.0% in the 1st quarter. Bogart Wealth LLC now owns 4,000 shares of the company's stock valued at $89,000 after purchasing an additional 2,000 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of GameStop by 31.8% during the first quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company's stock valued at $93,000 after purchasing an additional 1,000 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of GameStop in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, GameStop has a consensus rating of "Reduce" and a consensus price target of $13.50.

GameStop Price Performance

Shares of NYSE:GME opened at $21.49 on Tuesday. The business has a fifty day moving average price of $24.14 and a 200-day moving average price of $24.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 11.37 and a quick ratio of 10.79. The company has a market capitalization of $9.63 billion, a PE ratio of 29.44 and a beta of -1.00. GameStop Corp. has a 1-year low of $20.73 and a 1-year high of $35.81.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, September 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. The company had revenue of $972.20 million for the quarter, compared to analysts' expectations of $823.25 million. GameStop had a net margin of 9.41% and a return on equity of 7.72%. GameStop's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 6,509 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $179,518.22. Following the sale, the insider directly owned 112,620 shares in the company, valued at approximately $3,106,059.60. This trade represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of GameStop stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $122,703.42. Following the completion of the sale, the general counsel directly owned 112,302 shares of the company's stock, valued at approximately $3,097,289.16. The trade was a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,788 shares of company stock worth $321,046. Corporate insiders own 8.58% of the company's stock.

GameStop Company 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.

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