Wellington Management Group LLP Has $1.35 Million Holdings in GameStop Corp. (NYSE:GME)

Wellington Management Group LLP boosted its position in GameStop Corp. (NYSE:GME) by 312.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 77,097 shares of the company’s stock after purchasing an additional 58,394 shares during the period. Wellington Management Group LLP’s holdings in GameStop were worth $1,352,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Treasurer of the State of North Carolina lifted its stake in shares of GameStop by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock valued at $2,082,000 after purchasing an additional 1,160 shares during the period. Federated Hermes Inc. boosted its holdings in shares of GameStop by 3.8% during the 3rd quarter. Federated Hermes Inc. now owns 36,902 shares of the company’s stock worth $607,000 after buying an additional 1,363 shares in the last quarter. Fifth Third Bancorp grew its position in shares of GameStop by 50.6% during the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after buying an additional 1,445 shares during the period. Retirement Systems of Alabama increased its stake in shares of GameStop by 0.5% in the 4th quarter. Retirement Systems of Alabama now owns 336,422 shares of the company’s stock valued at $5,897,000 after acquiring an additional 1,567 shares in the last quarter. Finally, United Services Automobile Association lifted its position in shares of GameStop by 13.2% during the 4th quarter. United Services Automobile Association now owns 21,109 shares of the company’s stock valued at $370,000 after acquiring an additional 2,457 shares during the period. Institutional investors own 29.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GME has been the subject of several research analyst reports. Wedbush decreased their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday, June 20th.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction 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 completion of the sale, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other GameStop news, Director Lawrence Cheng bought 10,000 shares of GameStop stock in a transaction dated Monday, April 8th. The stock was bought at an average cost of $11.22 per share, with a total value of $112,200.00. Following the completion of the acquisition, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction 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 sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold 24,205 shares of company stock worth $283,420 over the last 90 days. 12.28% of the stock is currently owned by corporate insiders.

GameStop Stock Performance

GME opened at $23.36 on Tuesday. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 292.04 and a beta of -0.10. The company’s fifty day moving average price is $22.85 and its two-hundred day moving average price is $17.26. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01.

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

GameStop Company 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.