Virtu Financial LLC lowered its position in GameStop Corp. (NYSE:GME) by 40.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,191 shares of the company’s stock after selling 11,227 shares during the quarter. Virtu Financial LLC’s holdings in GameStop were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in GME. BlackRock Inc. boosted its holdings in GameStop by 3.9% in the third quarter. BlackRock Inc. now owns 14,800,155 shares of the company’s stock valued at $225,998,000 after acquiring an additional 550,779 shares during the last quarter. FMR LLC boosted its holdings in GameStop by 2.2% in the third quarter. FMR LLC now owns 14,544,866 shares of the company’s stock valued at $222,100,000 after acquiring an additional 319,831 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in GameStop by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 3,032,862 shares of the company’s stock valued at $46,313,000 after acquiring an additional 99,147 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in GameStop by 93.2% in the second quarter. Wells Fargo & Company MN now owns 1,691,999 shares of the company’s stock valued at $24,653,000 after acquiring an additional 816,080 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in GameStop by 27.8% in the second quarter. OppenheimerFunds Inc. now owns 1,325,627 shares of the company’s stock valued at $19,314,000 after acquiring an additional 288,549 shares during the last quarter. 98.67% of the stock is owned by institutional investors.
Several brokerages recently commented on GME. Loop Capital set a $16.00 target price on GameStop and gave the company a “hold” rating in a report on Friday, November 23rd. Wedbush reiterated a “buy” rating and issued a $19.00 target price 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 target price on the stock in a report on Monday, November 26th. TheStreet cut GameStop from a “c” rating to a “d+” rating in a report on Friday, November 30th. Finally, Credit Suisse Group set a $15.00 target price on GameStop and gave the company a “hold” rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.13.
GameStop (NYSE:GME) last posted its quarterly earnings results on Thursday, November 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. GameStop had a positive return on equity of 15.72% and a negative net margin of 6.45%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. As a group, sell-side analysts anticipate that GameStop Corp. will post 2.7 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.94%. The ex-dividend date is Monday, December 10th. GameStop’s payout ratio is 45.51%.
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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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