GameStop Corp. (NYSE:GME) Shares Sold by American International Group Inc.

American International Group Inc. reduced its position in GameStop Corp. (NYSE:GME) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 362,827 shares of the company’s stock after selling 15,009 shares during the quarter. American International Group Inc. owned approximately 0.12% of GameStop worth $6,360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in GameStop in the third quarter valued at about $872,000. Coatue Management LLC bought a new position in shares of GameStop during the fourth quarter valued at approximately $1,315,000. Rhumbline Advisers grew its holdings in GameStop by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 806,083 shares of the company’s stock worth $13,268,000 after buying an additional 13,248 shares in the last quarter. Invesco Ltd. grew its holdings in GameStop by 1.4% in the 3rd quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock worth $7,283,000 after buying an additional 6,311 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new position in GameStop in the 4th quarter worth approximately $184,000. 29.21% of the stock is owned by institutional investors.

GameStop Price Performance

GME opened at $25.47 on Friday. The firm has a market capitalization of $8.95 billion, a P/E ratio of 318.41 and a beta of -0.27. The stock has a fifty day moving average of $20.90 and a 200-day moving average of $16.84. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings data on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. During the same period in the prior year, the company posted ($0.14) earnings per share. The firm’s revenue was down 28.7% on a year-over-year basis. Equities analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GME shares. Wedbush cut their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Thursday.

Insider Activity at GameStop

In related news, Director Lawrence Cheng bought 10,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was bought at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Cheng bought 10,000 shares of GameStop stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares of the company’s stock, valued at $730,287.36. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 29,636 shares of company stock valued at $346,474. Corporate insiders own 12.28% of the company’s stock.

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.