Wells Fargo & Company MN boosted its holdings in shares of GameStop Corp. (NYSE:GME) by 70.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 881,129 shares of the company’s stock after acquiring an additional 363,407 shares during the period. Wells Fargo & Company MN owned about 0.87% of GameStop worth $15,816,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in shares of GameStop during the fourth quarter worth about $104,000. Macquarie Group Ltd. purchased a new stake in shares of GameStop during the third quarter worth about $112,000. SeaCrest Wealth Management LLC purchased a new stake in shares of GameStop during the fourth quarter worth about $140,000. Kovack Advisors Inc. purchased a new stake in shares of GameStop during the fourth quarter worth about $181,000. Finally, Unison Advisors LLC purchased a new stake in shares of GameStop during the fourth quarter worth about $198,000.
GME has been the subject of a number of recent research reports. Wedbush set a $23.00 price target on shares of GameStop and gave the stock a “buy” rating in a report on Monday, February 12th. Credit Suisse Group set a $20.00 price target on shares of GameStop and gave the stock a “hold” rating in a report on Saturday, November 25th. Loop Capital set a $26.00 price target on shares of GameStop and gave the stock a “buy” rating in a report on Friday, January 12th. ValuEngine upgraded shares of GameStop from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Vetr downgraded shares of GameStop from a “strong-buy” rating to a “hold” rating and set a $16.58 price target for the company. in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. GameStop presently has a consensus rating of “Hold” and an average price target of $22.23.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Monday, March 5th will be issued a $0.38 dividend. The ex-dividend date is Friday, March 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 9.74%. GameStop’s payout ratio is 44.31%.
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GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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