Sterling Investment Advisors Ltd. Invests $272,000 in GameStop Corp. (NYSE:GME)

Sterling Investment Advisors Ltd. purchased a new position in GameStop Corp. (NYSE:GME) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,667 shares of the company’s stock, valued at approximately $272,000.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after acquiring an additional 3,070,571 shares during the period. Geode Capital Management LLC increased its holdings in shares of GameStop by 41.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock worth $144,009,000 after acquiring an additional 1,852,088 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after acquiring an additional 646,488 shares during the period. Bank of New York Mellon Corp increased its stake 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 valued at $80,401,000 after buying an additional 60,673 shares during the period. Finally, Van ECK Associates Corp increased its stake in GameStop by 8.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock valued at $41,866,000 after buying an additional 136,785 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research note on Friday, December 6th.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the sale, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

GameStop Stock Performance

GME stock opened at $25.00 on Tuesday. The stock has a market cap of $11.17 billion, a P/E ratio of 138.87 and a beta of -0.11. The firm has a 50 day simple moving average of $28.68 and a 200 day simple moving average of $25.42. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. Sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

GameStop 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.