GameStop Corp. $GME Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in GameStop Corp. by 0.4%, owning approximately 3.18 million shares valued at $71 million following an additional purchase of 11,813 shares.
• Several institutional investors also raised their positions in GameStop, with UMB Bank increasing its stake by 100.6% and US Bancorp by 92.5% during the same quarter.
• GameStop's latest earnings report showed an EPS of $0.17, exceeding estimates, though revenue fell 16.9% year-over-year to $732.4 million.

Northern Trust Corp raised its holdings in GameStop Corp. (NYSE:GME - Free Report) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,183,116 shares of the company's stock after buying an additional 11,813 shares during the quarter. Northern Trust Corp owned about 0.71% of GameStop worth $71,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in 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 during the last quarter. US Bancorp DE raised its stake in GameStop by 92.5% in the first quarter. US Bancorp DE now owns 3,726 shares of the company's stock valued at $83,000 after buying an additional 1,790 shares during the last quarter. Bogart Wealth LLC raised its stake in GameStop by 100.0% in the first quarter. Bogart Wealth LLC now owns 4,000 shares of the company's stock valued at $89,000 after buying an additional 2,000 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in GameStop by 31.8% in the first quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company's stock valued at $93,000 after buying an additional 1,000 shares during the last quarter. Finally, CWM LLC raised its stake in shares of GameStop by 47.6% in the first quarter. CWM LLC now owns 4,353 shares of the company's stock worth $97,000 after purchasing an additional 1,404 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total transaction of $267,309.90. Following the transaction, the general counsel owned 116,781 shares in the company, valued at $2,823,764.58. This trade represents a 8.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 13,075 shares of company stock worth $315,685. Company insiders own 8.58% of the company's stock.

Wall Street Analyst Weigh In

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

GameStop Price Performance

Shares of NYSE:GME traded up $0.31 during midday trading on Thursday, reaching $22.81. 6,465,951 shares of the company's stock traded hands, compared to its average volume of 5,710,492. GameStop Corp. has a 1 year low of $19.31 and a 1 year high of $35.81. The company has a market cap of $10.20 billion, a P/E ratio of 49.58 and a beta of -0.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39. The company has a fifty day simple moving average of $23.11 and a two-hundred day simple moving average of $25.14.

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

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.