GameStop Corp. (NYSE:GME) Shares Bought by KBC Group NV

KBC Group NV grew its stake in GameStop Corp. (NYSE:GME) by 58.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,214 shares of the company’s stock after purchasing an additional 4,140 shares during the period. KBC Group NV’s holdings in GameStop were worth $257,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in GameStop in the 2nd quarter valued at $9,577,000. Renaissance Technologies LLC increased its stake in shares of GameStop by 34.0% during the second 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. Van ECK Associates Corp raised its holdings in GameStop by 14.2% during the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after purchasing an additional 209,861 shares in the last quarter. Tidal Investments LLC lifted its position in GameStop by 659.6% in the first quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock valued at $1,749,000 after purchasing an additional 121,328 shares during the period. Finally, Millennium Management LLC increased its position in GameStop by 226.6% during the 2nd quarter. Millennium Management LLC now owns 123,800 shares of the company’s stock worth $3,057,000 after purchasing an additional 85,893 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

GME has been the topic of a number of analyst reports. Wedbush decreased their price target on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Saturday, October 19th.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total transaction of $229,020.00. Following the sale, the general counsel now owns 43,927 shares in the company, valued at approximately $914,560.14. This represents a 20.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the transaction, the insider now directly owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock worth $481,000 in the last three months. Corporate insiders own 12.28% of the company’s stock.

GameStop Trading Up 4.3 %

Shares of GameStop stock opened at $27.57 on Wednesday. The company has a 50-day moving average of $22.24 and a two-hundred day moving average of $23.46. The stock has a market cap of $11.76 billion, a PE ratio of 212.05 and a beta of -0.13. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 1.79% and a net margin of 0.93%. GameStop’s revenue was down 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current fiscal 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.