Van ECK Associates Corp Buys 100,084 Shares of GameStop Corp. (NYSE:GME)

Van ECK Associates Corp boosted its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,331,536 shares of the company's stock after acquiring an additional 100,084 shares during the period. Van ECK Associates Corp owned 0.44% of GameStop worth $23,342,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its stake in GameStop by 99.7% in the third quarter. IFP Advisors Inc now owns 2,708 shares of the company's stock valued at $45,000 after purchasing an additional 1,352 shares in the last quarter. Fifth Third Bancorp grew its stake in GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company's stock valued at $47,000 after acquiring an additional 1,819 shares during the period. Headlands Technologies LLC bought a new stake in shares of GameStop in the fourth quarter worth about $55,000. Exchange Traded Concepts LLC raised its position in shares of GameStop by 278.9% during the third quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company's stock worth $108,000 after purchasing an additional 4,834 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of GameStop in the 4th quarter valued at approximately $184,000. Institutional investors own 29.21% of the company's stock.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 7,779 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the sale, the insider now owns 13,606 shares of the company's stock, valued at approximately $138,781.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Daniel William Moore sold 7,779 shares of the firm's stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the sale, the insider now directly owns 13,606 shares in the company, valued at approximately $138,781.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares of the company's stock, valued at approximately $746,615.88. The disclosure for this sale can be found here. Insiders have sold 27,207 shares of company stock valued at $285,048 in the last 90 days. 12.64% of the stock is currently owned by insiders.

GameStop Stock Down 1.6 %

Shares of GME traded down $0.18 during mid-day trading on Wednesday, hitting $10.92. 2,653,219 shares of the company's stock were exchanged, compared to its average volume of 3,822,456. The company has a 50-day simple moving average of $12.73 and a 200 day simple moving average of $13.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The company has a market cap of $3.34 billion, a PE ratio of 554.53 and a beta of -0.45. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $27.65.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The firm's quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, research analysts forecast that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GME shares. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research report on Wednesday, March 27th. Wedbush dropped their price target on GameStop from $6.00 to $5.60 and set an "underperform" rating on the stock in a research note on Wednesday, 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.