Selway Asset Management Increases Stake in GameStop Corp. (NYSE:GME)

Selway Asset Management raised its stake in GameStop Corp. (NYSE:GME - Free Report) by 57.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the company's stock after purchasing an additional 16,500 shares during the period. Selway Asset Management's holdings in GameStop were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in 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 acquiring an additional 684 shares in the last quarter. Bessemer Group Inc. raised 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 worth $54,000 after purchasing an additional 691 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock worth $67,000 after purchasing an additional 520 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of GameStop in the 4th quarter valued at $99,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of GameStop in the fourth quarter worth $130,000. Hedge funds and other institutional investors own 29.21% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Alain Attal acquired 10,000 shares of the company's stock in a transaction on Thursday, April 10th. The shares were bought at an average cost of $25.75 per share, with a total value of $257,500.00. Following the transaction, the director now owns 572,464 shares in the company, valued at approximately $14,740,948. This trade represents a 1.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $105,598.11. Following the sale, the general counsel now owns 37,663 shares of the company's stock, valued at approximately $848,547.39. The trade was a 11.07% decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 515,000 shares of company stock worth $11,140,200 over the last 90 days. Corporate insiders own 12.28% of the company's stock.

GameStop Price Performance

Shares of GME stock traded down $0.13 during trading on Wednesday, hitting $29.97. 7,294,071 shares of the stock traded hands, compared to its average volume of 15,793,828. The firm's fifty day moving average price is $27.14 and its 200-day moving average price is $27.38. The firm has a market capitalization of $13.41 billion, a P/E ratio of 166.51 and a beta of -0.76. GameStop Corp. has a 52-week low of $18.73 and a 52-week high of $48.00.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the company posted $0.21 EPS. The firm's quarterly revenue was down 28.5% on a year-over-year basis. As a group, equities research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current 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.