American Century Companies Inc. Buys New Shares in GameStop Corp. (NYSE:GME)

American Century Companies Inc. purchased a new stake in GameStop Corp. (NYSE:GME) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,366 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in the company. Quest Partners LLC lifted its position in shares of GameStop by 7,156.5% in the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after acquiring an additional 6,083 shares in the last quarter. Arizona State Retirement System lifted its position in shares of GameStop by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 77,067 shares of the company’s stock valued at $1,903,000 after acquiring an additional 1,501 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of GameStop by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 61,233 shares of the company’s stock valued at $1,512,000 after acquiring an additional 5,060 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new stake in shares of GameStop in the 2nd quarter valued at approximately $204,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of GameStop in the 2nd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Up 0.7 %

GME stock opened at $21.35 on Friday. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 266.88 and a beta of -0.19. The company has a 50 day moving average of $21.88 and a two-hundred day moving average of $20.92.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $895.67 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue was down 31.4% compared to the same quarter last year. On average, research analysts anticipate that GameStop Corp. will post 0.01 EPS for the current year.

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the purchase, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Daniel William Moore sold 1,972 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the transaction, the insider now directly owns 37,280 shares in the company, valued at approximately $818,668.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence Cheng bought 4,140 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 12.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GME shares. Wedbush cut their target price 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.

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.