Bank of New York Mellon Corp Cuts Stake in GameStop Corp. (NYSE:GME)

Bank of New York Mellon Corp trimmed its stake in GameStop Corp. (NYSE:GME - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,519,313 shares of the company's stock after selling 46,142 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of GameStop worth $56,231,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after buying an additional 684 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after buying an additional 691 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after buying an additional 520 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of GameStop by 100.6% in the first 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 in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of GameStop by 69.9% in the first quarter. GAMMA Investing LLC now owns 6,056 shares of the company's stock valued at $135,000 after buying an additional 2,492 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GME shares. Wedbush raised shares of GameStop to a "strong sell" rating in a research report on Tuesday, July 1st. Wall Street Zen raised shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 1,269 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $23.95, for a total transaction of $30,392.55. Following the sale, the general counsel owned 127,836 shares of the company's stock, valued at approximately $3,061,672.20. This represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.28% of the company's stock.

GameStop Stock Performance

GME stock traded up $0.29 during mid-day trading on Friday, hitting $23.39. The company had a trading volume of 11,367,997 shares, compared to its average volume of 11,197,835. The firm has a market cap of $10.46 billion, a PE ratio of 50.85 and a beta of -0.81. 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 Corp. has a 12 month low of $18.73 and a 12 month high of $35.81. The stock's fifty day moving average price is $26.66 and its two-hundred day moving average price is $26.54.

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

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.