Canada Pension Plan Investment Board lessened its holdings in GameStop Corp. (NYSE:GME) by 18.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,491 shares of the company’s stock after selling 128,609 shares during the period. Canada Pension Plan Investment Board owned about 0.54% of GameStop worth $8,482,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of GME. Metropolitan Life Insurance Co. NY raised its holdings in shares of GameStop by 12.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 32,677 shares of the company’s stock worth $476,000 after acquiring an additional 3,496 shares in the last quarter. Raymond James & Associates raised its holdings in shares of GameStop by 22.0% during the second quarter. Raymond James & Associates now owns 21,982 shares of the company’s stock worth $320,000 after acquiring an additional 3,959 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of GameStop by 43.2% during the second quarter. Oppenheimer & Co. Inc. now owns 14,750 shares of the company’s stock worth $215,000 after acquiring an additional 4,450 shares in the last quarter. United Services Automobile Association raised its holdings in shares of GameStop by 11.7% during the second quarter. United Services Automobile Association now owns 51,583 shares of the company’s stock worth $752,000 after acquiring an additional 5,406 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of GameStop by 19.4% during the second quarter. Crossmark Global Holdings Inc. now owns 36,421 shares of the company’s stock worth $531,000 after acquiring an additional 5,920 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.
NYSE GME opened at $13.68 on Friday. GameStop Corp. has a fifty-two week low of $12.14 and a fifty-two week high of $20.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 1.10. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 4.10 and a beta of 1.17.
GameStop (NYSE:GME) last posted its earnings results on Thursday, November 29th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. GameStop had a positive return on equity of 15.72% and a negative net margin of 6.45%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Analysts anticipate that GameStop Corp. will post 2.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Tuesday, December 11th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 10th. This represents a $1.52 annualized dividend and a yield of 11.11%. GameStop’s dividend payout ratio (DPR) is currently 45.51%.
Several brokerages recently issued reports on GME. Loop Capital set a $16.00 price objective on GameStop and gave the stock a “hold” rating in a report on Friday, November 23rd. Wedbush reiterated a “buy” rating and set a $19.00 price objective on shares of GameStop in a report on Monday, November 26th. Bank of America upgraded GameStop from an “underperform” rating to a “neutral” rating and set a $16.00 price objective for the company in a report on Monday, November 26th. TheStreet lowered GameStop from a “c” rating to a “d+” rating in a report on Friday, November 30th. Finally, Credit Suisse Group set a $15.00 price objective on GameStop and gave the stock a “hold” rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.13.
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GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.
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