Meeder Asset Management Inc. Sells 12,400 Shares of GameStop Corp. (GME)
Meeder Asset Management Inc. lowered its position in shares of GameStop Corp. (NYSE:GME) by 24.1% in the fourth quarter, Holdings Channel reports. The fund owned 39,137 shares of the company’s stock after selling 12,400 shares during the period. Meeder Asset Management Inc.’s holdings in GameStop were worth $702,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Balasa Dinverno & Foltz LLC raised its position in shares of GameStop by 112.1% during the third quarter. Balasa Dinverno & Foltz LLC now owns 37,689 shares of the company’s stock worth $779,000 after acquiring an additional 19,921 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in GameStop by 40.0% in the third quarter. JPMorgan Chase & Co. now owns 171,573 shares of the company’s stock valued at $3,566,000 after purchasing an additional 49,041 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in GameStop by 74.5% in the third quarter. Public Employees Retirement System of Ohio now owns 56,271 shares of the company’s stock valued at $1,163,000 after purchasing an additional 24,032 shares during the last quarter. Legal & General Group Plc increased its holdings in GameStop by 6.8% in the third quarter. Legal & General Group Plc now owns 217,835 shares of the company’s stock valued at $4,501,000 after purchasing an additional 13,821 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in GameStop in the third quarter valued at about $1,185,000.
In other GameStop news, Director Stephanie M. Shern sold 4,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $17.91, for a total value of $71,640.00. Following the completion of the transaction, the director now directly owns 13,474 shares of the company’s stock, valued at $241,319.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.
GameStop (NYSE:GME) last posted its earnings results on Tuesday, November 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. GameStop had a return on equity of 16.50% and a net margin of 3.98%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. equities research analysts predict that GameStop Corp. will post 3.23 EPS for the current year.
A number of equities research analysts recently commented on GME shares. SunTrust Banks reiterated a “buy” rating and issued a $25.00 price objective on shares of GameStop in a report on Tuesday, October 17th. Zacks Investment Research upgraded GameStop from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, October 25th. Wedbush set a $25.00 price objective on GameStop and gave the company a “buy” rating in a report on Thursday, November 16th. Vetr downgraded GameStop from a “strong-buy” rating to a “hold” rating and set a $16.58 price objective for the company. in a report on Friday, November 17th. Finally, Benchmark reiterated a “sell” rating and issued a $15.00 price objective (down previously from $18.00) on shares of GameStop in a report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. GameStop currently has a consensus rating of “Hold” and an average price target of $22.42.
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GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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