Yousif Capital Management LLC Sells 2,594 Shares of GameStop Corp. (NYSE:GME)

Yousif Capital Management LLC lowered its position in GameStop Corp. (NYSE:GME) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,337 shares of the company’s stock after selling 2,594 shares during the period. Yousif Capital Management LLC’s holdings in GameStop were worth $3,132,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after acquiring an additional 684 shares during the period. Bessemer Group Inc. grew its holdings in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after purchasing an additional 520 shares during the period. SBI Securities Co. Ltd. bought a new stake in GameStop during the fourth quarter valued at about $99,000. Finally, UMB Bank n.a. grew its holdings in GameStop by 100.6% during the first quarter. UMB Bank n.a. now owns 3,651 shares of the company’s stock valued at $81,000 after purchasing an additional 1,831 shares during the period. Institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

NYSE:GME opened at $22.18 on Friday. The stock has a 50-day simple moving average of $27.96 and a two-hundred day simple moving average of $27.35. GameStop Corp. has a 52-week low of $18.73 and a 52-week high of $35.81. The firm has a market capitalization of $9.92 billion, a PE ratio of 123.20 and a beta of -0.69.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.04 by $0.13. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $732.40 million for the quarter, compared to the consensus estimate of $754.23 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The business’s revenue was down 16.9% on a year-over-year basis. Equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GME. Wall Street Zen raised GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush reissued an “underperform” rating and set a $13.50 price target on shares of GameStop in a report on Wednesday.

Insider Activity

In other news, CEO Ryan Cohen bought 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the transaction, the chief executive officer now owns 37,347,842 shares of the company’s stock, valued at approximately $804,845,995.10. This represents a 1.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $105,598.11. Following the completion of the sale, the general counsel now owns 37,663 shares in the company, valued at $848,547.39. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 515,000 shares of company stock worth $11,140,200 over the last ninety days. Corporate 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.