First Trust Advisors LP Takes Position in GameStop Corp. (NYSE:GME)

First Trust Advisors LP bought a new position in GameStop Corp. (NYSE:GME - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 106,563 shares of the company's stock, valued at approximately $3,340,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in GameStop by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock worth $1,226,775,000 after acquiring an additional 2,036,032 shares during the period. Geode Capital Management LLC lifted its position in shares of GameStop by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock worth $208,769,000 after purchasing an additional 380,554 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in GameStop by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company's stock valued at $17,750,000 after purchasing an additional 244,339 shares during the period. Amundi acquired a new stake in GameStop in the 4th quarter valued at approximately $5,332,000. Finally, Retirement Systems of Alabama increased its position in GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company's stock worth $10,804,000 after buying an additional 138,597 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Trading Up 0.1 %

GME stock traded up $0.04 during midday trading on Wednesday, hitting $26.08. The stock had a trading volume of 4,360,691 shares, compared to its average volume of 20,249,313. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 144.89 and a beta of -0.76. The stock has a 50-day simple moving average of $24.92 and a 200 day simple moving average of $26.53. GameStop Corp. has a 52 week low of $14.93 and a 52 week high of $64.83.

GameStop (NYSE:GME - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating 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 business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm's revenue for the quarter was down 28.5% on a year-over-year basis. On average, equities analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the sale, the insider now owns 29,777 shares in the company, valued at approximately $670,875.81. This trade represents a 5.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the transaction, the general counsel now directly owns 37,663 shares of the company's stock, valued at approximately $848,547.39. This represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 515,000 shares of company stock worth $11,140,200. Corporate insiders own 12.28% of the company's stock.

Wall Street Analyst Weigh In

GME has been the topic of a number of research reports. Wedbush set a $11.50 target price on shares of GameStop in a research report on Wednesday, March 26th. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.

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.