First National Corp MA ADV Purchases 15,766 Shares of GameStop Corp. $GME

Key Points

• First National Corp MA ADV increased its stake in GameStop Corp. by 51.1%, acquiring an additional 15,766 shares, bringing its total holdings to 46,629 shares worth approximately $1.14 million.
• GameStop is planning a 11-10 stock split that will take effect before the market opens on October 3rd, allowing existing shareholders to receive additional shares.
• In its latest quarterly report, GameStop achieved earnings per share of $0.25, surpassing estimates, with a 21.8% increase in revenue year-over-year, totaling $972.2 million.

First National Corp MA ADV boosted its position in GameStop Corp. (NYSE:GME - Free Report) by 51.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,629 shares of the company's stock after acquiring an additional 15,766 shares during the quarter. First National Corp MA ADV's holdings in GameStop were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GME. Fifth Third Bancorp boosted its holdings in shares of GameStop by 10.3% during the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock worth $139,000 after purchasing an additional 579 shares during the period. Scratch Capital LLC boosted its holdings in shares of GameStop by 3.3% during the first quarter. Scratch Capital LLC now owns 23,570 shares of the company's stock worth $526,000 after purchasing an additional 750 shares during the period. State of Wyoming boosted its holdings in shares of GameStop by 11.0% during the first quarter. State of Wyoming now owns 7,688 shares of the company's stock worth $172,000 after purchasing an additional 759 shares during the period. Xponance Inc. boosted its holdings in shares of GameStop by 1.7% during the first quarter. Xponance Inc. now owns 47,392 shares of the company's stock worth $1,058,000 after purchasing an additional 785 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings 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 worth $93,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 29.21% of the company's stock.

GameStop Price Performance

Shares of GME opened at $25.60 on Tuesday. The company has a market capitalization of $11.46 billion, a P/E ratio of 35.07 and a beta of -0.92. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $23.12 and a 200 day moving average of $24.93. GameStop Corp. has a twelve month low of $19.42 and a twelve month high of $35.81.

GameStop shares are set to split before the market opens on Friday, October 3rd. The 11-10 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Thursday, October 2nd.

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

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,823,764.58. The trade was a 8.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 13,905 shares of company stock valued at $334,509. Insiders own 8.58% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush upgraded shares of GameStop to a "strong sell" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell" and an average price target of $13.50.

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.

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