JPMorgan Chase & Co. Has $17.75 Million Stake in GameStop Corp. (NYSE:GME)

JPMorgan Chase & Co. raised its position in GameStop Corp. (NYSE:GME) by 46.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 774,096 shares of the company’s stock after acquiring an additional 244,339 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.17% of GameStop worth $17,750,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares during the period. CWM LLC raised its stake in GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after buying an additional 529 shares during the period. Quest Partners LLC raised its stake in GameStop by 7,156.5% in the second quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after buying an additional 6,083 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of GameStop in the third quarter valued at approximately $171,000. Finally, American Century Companies Inc. bought a new position in shares of GameStop during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Stock Down 1.3 %

Shares of GME stock opened at $32.95 on Friday. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The firm has a 50 day moving average price of $28.76 and a two-hundred day moving average price of $24.74. The company has a market capitalization of $14.72 billion, a PE ratio of 183.07 and a beta of -0.02.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, research analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GME shares. StockNews.com raised GameStop to a “sell” rating in a report on Saturday, October 19th. Wedbush reissued an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

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.