Sei Investments Co. Purchases 2,202 Shares of GameStop Corp. (NYSE:GME)

Sei Investments Co. lifted its holdings in GameStop Corp. (NYSE:GME) by 18.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,081 shares of the company’s stock after acquiring an additional 2,202 shares during the quarter. Sei Investments Co.’s holdings in GameStop were worth $348,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. AE Wealth Management LLC acquired a new position in shares of GameStop during the 2nd quarter worth approximately $895,000. Intech Investment Management LLC bought a new position in GameStop during the 2nd quarter worth $288,000. Renaissance Technologies LLC increased its stake in GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after acquiring an additional 342,178 shares during the period. Federated Hermes Inc. lifted its position in shares of GameStop by 43.2% during the 2nd quarter. Federated Hermes Inc. now owns 28,360 shares of the company’s stock valued at $700,000 after acquiring an additional 8,552 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of GameStop during the 2nd quarter worth $207,000. 29.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush cut their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Wednesday, September 25th.

GameStop Stock Up 2.0 %

Shares of GME stock opened at $20.91 on Friday. The business has a fifty day simple moving average of $21.75 and a 200 day simple moving average of $21.13. The company has a market cap of $7.34 billion, a P/E ratio of 261.31 and a beta of -0.19. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the sale, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 2,376 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $21.50, for a total value of $51,084.00. Following the sale, the insider now owns 34,904 shares in the company, valued at approximately $750,436. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,015 shares of company stock valued at $196,876 in the last quarter. 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.