CIBC Asset Management Inc Acquires 502 Shares of GameStop Corp. (NYSE:GME)

CIBC Asset Management Inc grew its holdings in GameStop Corp. (NYSE:GME) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,381 shares of the company’s stock after buying an additional 502 shares during the period. CIBC Asset Management Inc’s holdings in GameStop were worth $294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GME. Christensen King & Associates Investment Services Inc. lifted its holdings in GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock valued at $853,000 after purchasing an additional 518 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of GameStop by 2.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after purchasing an additional 523 shares during the period. CWM LLC lifted its stake in shares of GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after buying an additional 529 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of GameStop by 11.1% during the 4th quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock worth $177,000 after buying an additional 566 shares during the period. Finally, Yousif Capital Management LLC grew its stake in GameStop by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 142,931 shares of the company’s stock valued at $4,479,000 after buying an additional 628 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

GameStop Price Performance

Shares of NYSE GME opened at $25.00 on Tuesday. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 138.87 and a beta of -0.11. The stock’s fifty day moving average price is $28.77 and its two-hundred day moving average price is $25.39. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83.

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

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the sale, the general counsel now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel William Moore sold 895 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 $27,807.65. Following the completion of the transaction, the insider now directly owns 31,385 shares of the company’s stock, valued at $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.