Dimensional Fund Advisors LP Grows Stock Position in GameStop Corp. $GME

Dimensional Fund Advisors LP boosted its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 189.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,909,284 shares of the company's stock after acquiring an additional 2,557,079 shares during the quarter. Dimensional Fund Advisors LP owned 0.87% of GameStop worth $90,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in GameStop by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company's stock valued at $147,431,000 after purchasing an additional 92,996 shares during the period. Virtu Financial LLC purchased a new stake in GameStop in the fourth quarter worth $1,745,000. Northwestern Mutual Wealth Management Co. boosted its holdings in GameStop by 13,283.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 129,682 shares of the company's stock valued at $2,604,000 after acquiring an additional 128,713 shares in the last quarter. Pacer Advisors Inc. increased its position in GameStop by 19.3% during the 4th quarter. Pacer Advisors Inc. now owns 1,112,535 shares of the company's stock valued at $22,340,000 after purchasing an additional 180,356 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in GameStop in the 1st quarter worth $2,753,000. 29.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of GameStop from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of GameStop from a "hold" rating to a "buy" rating in a research note on Sunday, June 14th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, GameStop presently has a consensus rating of "Hold".

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 3,957 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $22.62, for a total value of $89,507.34. Following the completion of the sale, the general counsel owned 104,190 shares in the company, valued at $2,356,777.80. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,562.30. Following the completion of the transaction, the insider directly owned 115,125 shares in the company, valued at $2,576,497.50. This trade represents a 5.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,125 shares of company stock valued at $406,587 in the last three months. 9.50% of the stock is currently owned by corporate insiders.

GameStop Stock Performance

GME opened at $21.84 on Thursday. The company's 50 day moving average is $21.85 and its 200 day moving average is $22.92. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 16.55 and a beta of 1.76. GameStop Corp. has a 12-month low of $19.93 and a 12-month high of $28.10.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.14. The business had revenue of $835.30 million for the quarter, compared to the consensus estimate of $766.63 million. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The company's quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share.

GameStop Company Profile

GameStop Corp. NYSE: GME is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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