GameStop Corp. (NYSE:GME) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in GameStop Corp. (NYSE:GME - Free Report) by 26.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,171,303 shares of the company's stock after purchasing an additional 659,345 shares during the period. Northern Trust Corp owned about 0.71% of GameStop worth $99,389,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in GameStop by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 310,028 shares of the company's stock valued at $9,716,000 after buying an additional 6,202 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in GameStop during the fourth quarter worth approximately $274,000. Pinebridge Investments L.P. grew its holdings in GameStop by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 78,457 shares of the company's stock valued at $2,459,000 after purchasing an additional 23,473 shares during the period. Slate Path Capital LP purchased a new stake in shares of GameStop in the fourth quarter valued at approximately $60,361,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of GameStop by 9.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,740 shares of the company's stock worth $744,000 after buying an additional 2,146 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

GameStop Price Performance

NYSE GME traded up $0.04 during mid-day trading on Wednesday, hitting $26.08. The stock had a trading volume of 4,360,691 shares, compared to its average volume of 20,249,334. GameStop Corp. has a twelve month low of $14.93 and a twelve month high of $64.83. The firm's 50 day moving average is $24.92 and its 200 day moving average is $26.53. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 144.89 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The business's revenue was down 28.5% compared to the same quarter last year. As a group, equities research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, CEO Ryan Cohen bought 500,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. This represents a 1.36 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 1,608 shares of the business's stock in a transaction that occurred on 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 directly owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 515,000 shares of company stock valued at $11,140,200 in the last 90 days. Company insiders own 12.28% of the company's stock.

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.