UMB Bank n.a. Raises Stock Position in GameStop Corp. (NYSE:GME)

UMB Bank n.a. grew its stake in GameStop Corp. (NYSE:GME) by 535.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138 shares of the company’s stock after buying an additional 959 shares during the period. UMB Bank n.a.’s holdings in GameStop were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in 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 buying an additional 167,145 shares in the last quarter. Van ECK Associates Corp grew its stake in GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after buying an additional 209,861 shares in the last quarter. Renaissance Technologies LLC grew its stake in GameStop by 34.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after buying an additional 342,178 shares in the last quarter. Principal Financial Group Inc. grew its stake in GameStop by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after buying an additional 25,159 shares in the last quarter. Finally, Swiss National Bank grew its stake in GameStop by 0.3% in the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of GME opened at $21.28 on Wednesday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 266.00 and a beta of -0.19. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The firm has a 50 day moving average price of $21.74 and a 200-day moving average price of $21.39.

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

Analysts Set New Price Targets

A number of equities analysts have commented on GME shares. Wedbush cut their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Wednesday, September 25th.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’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 completion of the sale, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other GameStop news, insider Daniel William Moore sold 1,972 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 $43,305.12. Following the transaction, the insider now directly owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock worth $481,000 in the last three months. 12.28% of the stock is owned by insiders.

GameStop 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.