Pinebridge Investments L.P. Increases Stock Holdings in GameStop Corp. (NYSE:GME)

Pinebridge Investments L.P. raised its stake in GameStop Corp. (NYSE:GME - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,457 shares of the company's stock after acquiring an additional 23,473 shares during the period. Pinebridge Investments L.P.'s holdings in GameStop were worth $2,459,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its position in GameStop by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock valued at $294,000 after purchasing an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. raised its stake in shares of GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock worth $853,000 after purchasing an additional 518 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 valued at $67,000 after purchasing an additional 520 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of GameStop by 2.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company's stock valued at $575,000 after buying an additional 523 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its position in GameStop by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock valued at $963,000 after purchasing an additional 557 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Price Performance

Shares of NYSE GME traded down $0.07 during midday trading on Friday, reaching $27.36. 2,892,913 shares of the stock traded hands, compared to its average volume of 20,540,410. The stock has a market capitalization of $12.23 billion, a PE ratio of 152.01 and a beta of -0.44. The company's 50 day moving average is $24.78 and its 200 day moving average is $26.38. GameStop Corp. has a one year low of $10.96 and a one year high of $64.83.

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

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the sale, the insider now owns 29,777 shares in the company, valued at $670,875.81. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alain Attal purchased 10,000 shares of GameStop stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $25.75 per share, with a total value of $257,500.00. Following the completion of the transaction, the director now owns 572,464 shares in the company, valued at approximately $14,740,948. This represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 515,000 shares of company stock worth $11,140,200 over the last quarter. Company insiders own 12.28% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush set a $11.50 target price on shares of GameStop in a research note on Wednesday, March 26th.

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.