MetLife Investment Management LLC Grows Stake in GameStop Corp. (NYSE:GME)

MetLife Investment Management LLC increased its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,806 shares of the company's stock after acquiring an additional 28,572 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of GameStop worth $7,171,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after purchasing an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of GameStop in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new position in shares of GameStop in the fourth quarter valued at approximately $51,000. Bessemer Group Inc. lifted its holdings in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after acquiring an additional 691 shares during the period. Finally, UMB Bank n.a. grew its stake in GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock valued at $57,000 after purchasing an additional 682 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GME. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a research note on Wednesday, March 26th.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,687 shares of the firm'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 sale, the general counsel now owns 37,663 shares in the company, valued at $848,547.39. This trade represents a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Cohen bought 500,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the transaction, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. The trade was a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 515,000 shares of company stock worth $11,140,200. 12.28% of the stock is owned by company insiders.

GameStop Stock Down 1.3 %

GameStop stock traded down $0.35 during midday trading on Monday, reaching $27.12. The stock had a trading volume of 2,706,383 shares, compared to its average volume of 20,561,544. The firm has a market capitalization of $12.12 billion, a PE ratio of 150.25 and a beta of -0.44. GameStop Corp. has a 12 month low of $10.70 and a 12 month high of $64.83. The firm's 50-day moving average price is $24.67 and its 200 day moving average price is $26.27.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. GameStop's revenue for the quarter was down 28.5% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Equities research analysts expect that GameStop Corp. will post 0.08 EPS 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.