Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in GameStop Corp. (NYSE:GME)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in GameStop Corp. (NYSE:GME) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,985 shares of the company’s stock after selling 4,964 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GameStop were worth $1,259,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after purchasing an additional 289,947 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after purchasing an additional 147,655 shares during the period. BNP Paribas Financial Markets grew its holdings in GameStop by 527.0% during the 4th quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock valued at $2,576,000 after purchasing an additional 123,516 shares during the last quarter. Finally, Tidal Investments LLC raised its position in GameStop by 659.6% in the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after purchasing an additional 121,328 shares during the period. 29.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s 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 in the company, valued at approximately $1,274,582.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the transaction, the general counsel now 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 the SEC website. Also, Director Lawrence Cheng purchased 4,140 shares of GameStop stock in a transaction dated Monday, July 8th. The stock was acquired at an average price of $24.85 per share, with a total value of $102,879.00. Following the acquisition, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Insiders have sold 3,183 shares of company stock worth $81,001 in the last ninety days. 12.28% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on GME. Wedbush dropped 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 report on Monday, August 26th.

GameStop Trading Up 8.9 %

GME stock opened at $23.42 on Tuesday. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The firm’s 50-day moving average is $23.47 and its 200 day moving average is $19.69. The company has a market capitalization of $8.23 billion, a PE ratio of 292.75 and a beta of -0.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42.

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

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.