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

Northern Trust Corp boosted its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,171,303 shares of the company's stock after purchasing an additional 659,345 shares during the period. Northern Trust Corp owned approximately 0.71% of GameStop worth $99,389,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after acquiring an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of GameStop in the 4th quarter worth about $37,000. R Squared Ltd acquired a new position in shares of GameStop in the 4th quarter valued at about $51,000. Bessemer Group Inc. grew its holdings in shares of GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after purchasing an additional 691 shares during the period. Finally, UMB Bank n.a. increased its position in GameStop by 59.9% during the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after purchasing an additional 682 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

GameStop Stock Performance

Shares of NYSE:GME traded up $0.55 during mid-day trading on Friday, hitting $27.33. 5,088,962 shares of the company traded hands, compared to its average volume of 20,100,720. The firm's 50 day simple moving average is $24.98 and its 200 day simple moving average is $26.56. The firm has a market cap of $12.22 billion, a P/E ratio of 151.84 and a beta of -0.76. GameStop Corp. has a 52-week low of $15.35 and a 52-week high of $64.83.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business's quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GME. Wedbush set a $11.50 price target 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.

Insider Activity

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