63,588 Shares in GameStop Corp. $GME Purchased by Signal Advisors Wealth LLC

Key Points

• Signal Advisors Wealth LLC invested $1.55 million in GameStop Corp. by acquiring 63,588 shares of the company in the second quarter.
• GameStop's stock is set to split on October 3rd with an 11-10 split, which could affect shareholder holdings post-market on October 2nd.
• The company recently reported a net margin of 9.41% and a 21.8% revenue increase year-over-year, with quarterly earnings per share of $0.25.

Signal Advisors Wealth LLC acquired a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 63,588 shares of the company's stock, valued at approximately $1,551,000.

Several other institutional investors also recently bought and sold shares of GME. Cetera Investment Advisers grew its stake in GameStop by 29.2% during the fourth quarter. Cetera Investment Advisers now owns 28,385 shares of the company's stock worth $890,000 after buying an additional 6,411 shares during the period. Lazard Asset Management LLC grew its stake in GameStop by 68,300.0% during the fourth quarter. Lazard Asset Management LLC now owns 6,840 shares of the company's stock worth $213,000 after buying an additional 6,830 shares during the period. ProShare Advisors LLC grew its stake in GameStop by 12.4% during the fourth quarter. ProShare Advisors LLC now owns 19,009 shares of the company's stock worth $596,000 after buying an additional 2,101 shares during the period. State of Wyoming purchased a new stake in GameStop during the fourth quarter worth approximately $217,000. Finally, Tidal Investments LLC grew its stake in GameStop by 43.6% during the fourth quarter. Tidal Investments LLC now owns 21,695 shares of the company's stock worth $680,000 after buying an additional 6,585 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the sale, the general counsel directly owned 116,781 shares of the company's stock, valued at approximately $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 13,905 shares of company stock worth $334,509 over the last 90 days. 8.58% of the stock is currently owned by corporate insiders.

GameStop Stock Up 0.6%

NYSE GME traded up $0.16 during trading hours on Friday, reaching $26.04. 9,532,742 shares of the company traded hands, compared to its average volume of 10,188,455. GameStop Corp. has a 12 month low of $19.48 and a 12 month high of $35.81. The company has a current ratio of 11.37, a quick ratio of 10.79 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $11.66 billion, a PE ratio of 35.67 and a beta of -0.93. The company has a 50 day moving average of $23.36 and a two-hundred day moving average of $24.97.

Shares of GameStop are going to split on Friday, October 3rd. The 11-10 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Thursday, October 2nd.

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