106,563 Shares in GameStop Corp. (NYSE:GME) Purchased by First Trust Advisors LP

First Trust Advisors LP acquired a new stake in GameStop Corp. (NYSE:GME) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 106,563 shares of the company’s stock, valued at approximately $3,340,000.

Several other institutional investors have also added to or reduced their stakes in GME. Charles Schwab Investment Management Inc. lifted its position in shares of GameStop by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after buying an additional 107,354 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of GameStop in the 4th quarter valued at approximately $878,000. Retirement Systems of Alabama grew its holdings in shares of GameStop by 41.7% during the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock valued at $10,804,000 after purchasing an additional 138,597 shares during the last quarter. Bank of New York Mellon Corp increased its position in GameStop by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock worth $80,401,000 after purchasing an additional 60,673 shares in the last quarter. Finally, Swiss National Bank lifted its stake in GameStop by 5.5% in the 4th quarter. Swiss National Bank now owns 834,228 shares of the company’s stock valued at $26,145,000 after purchasing an additional 43,700 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on GME shares. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

GameStop Price Performance

GME opened at $27.47 on Friday. GameStop Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $64.83. The company’s 50 day moving average price is $24.84 and its two-hundred day moving average price is $26.46. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 152.62 and a beta of -0.76.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $0.21 EPS. GameStop’s revenue for the quarter was down 28.5% compared to the same quarter last year. As a group, equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,687 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $105,598.11. Following the sale, the general counsel now owns 37,663 shares of the company’s stock, valued at approximately $848,547.39. This represents a 11.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Cheng acquired 5,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $21.54 per share, with a total value of $107,700.00. Following the completion of the transaction, the director now owns 83,000 shares in the company, valued at approximately $1,787,820. This represents a 6.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 515,000 shares of company stock worth $11,140,200 over the last ninety days. Insiders own 12.28% of the company’s stock.

GameStop Company 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.