JPMorgan Chase & Co. Lowers Position in GameStop Corp. (NYSE:GME)

JPMorgan Chase & Co. lowered its position in GameStop Corp. (NYSE:GME - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 678,433 shares of the company's stock after selling 95,663 shares during the period. JPMorgan Chase & Co. owned about 0.15% of GameStop worth $21,262,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GME. FMR LLC lifted its holdings in GameStop by 7.2% in the 3rd quarter. FMR LLC now owns 41,408 shares of the company's stock worth $949,000 after purchasing an additional 2,793 shares in the last quarter. State Street Corp boosted its position in shares of GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company's stock worth $255,526,000 after acquiring an additional 3,070,571 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in GameStop by 25.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 141,383 shares of the company's stock valued at $3,242,000 after acquiring an additional 28,699 shares during the last quarter. Geode Capital Management LLC lifted its stake in GameStop by 41.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company's stock worth $144,009,000 after purchasing an additional 1,852,088 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of GameStop during the 3rd quarter valued at about $285,000. Hedge funds and other institutional investors own 29.21% of the company's stock.

Insider Buying and Selling at GameStop

In related news, Director Alain Attal acquired 10,000 shares of GameStop stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the transaction, the director now owns 572,464 shares of the company's stock, valued at approximately $14,740,948. The trade was a 1.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 1,608 shares of GameStop 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 $36,228.24. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders purchased 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is owned by company insiders.

GameStop Stock Down 1.1 %

Shares of GameStop stock traded down $0.29 on Wednesday, reaching $26.41. The stock had a trading volume of 1,722,403 shares, compared to its average volume of 20,317,955. The stock has a market capitalization of $11.81 billion, a P/E ratio of 146.61 and a beta of -0.44. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The company has a 50 day moving average price of $24.59 and a 200 day moving average price of $25.92.

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

Analyst Ratings Changes

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

About GameStop

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.