Nuveen Asset Management LLC Boosts Stock Position in GameStop Corp. (NYSE:GME)

Nuveen Asset Management LLC raised its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,179,710 shares of the company's stock after buying an additional 65,797 shares during the period. Nuveen Asset Management LLC owned about 0.26% of GameStop worth $36,972,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after acquiring an additional 684 shares during the period. New Wave Wealth Advisors LLC bought a new position in GameStop in the 4th quarter worth $37,000. R Squared Ltd purchased a new position in GameStop during the fourth quarter valued at $51,000. Bessemer Group Inc. grew its holdings in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after purchasing an additional 691 shares during the period. Finally, UMB Bank n.a. increased its position in GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after buying an additional 682 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the sale, the insider now owns 29,777 shares in the company, valued at $670,875.81. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Cohen bought 500,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the acquisition, the chief executive officer now directly owns 37,347,842 shares of the company's stock, valued at approximately $804,845,995.10. This represents a 1.36% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 515,000 shares of company stock valued at $11,140,200 over the last 90 days. Company insiders own 12.28% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on GME shares. Wedbush set a $11.50 price objective on GameStop in a research note on Wednesday, March 26th. Wall Street Zen raised shares of GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

GameStop Stock Performance

Shares of NYSE GME traded up $2.33 during midday trading on Monday, reaching $33.19. The stock had a trading volume of 30,274,875 shares, compared to its average volume of 16,800,337. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 184.39 and a beta of -0.76. GameStop Corp. has a 12-month low of $18.73 and a 12-month high of $48.00. The stock has a 50-day moving average of $26.22 and a 200-day moving average of $27.15.

GameStop (NYSE:GME - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. GameStop's quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. As a group, analysts forecast 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.