Sterling Investment Advisors Ltd. Invests $204,000 in GameStop Corp. (NYSE:GME)

Sterling Investment Advisors Ltd. bought a new position in GameStop Corp. (NYSE:GME) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,247 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of GameStop by 12.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after acquiring an additional 289,947 shares in the last quarter. Van ECK Associates Corp raised its position in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after acquiring an additional 209,861 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of GameStop by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after acquiring an additional 25,159 shares in the last quarter. Finally, Swiss National Bank increased its position in GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after buying an additional 1,400 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GME shares. StockNews.com raised GameStop to a “sell” rating in a research report on Monday, August 26th. Wedbush reduced their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence Cheng bought 4,140 shares of the business’s stock in a transaction on Monday, July 8th. The shares were acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. In the last three months, insiders have sold 3,183 shares of company stock worth $81,001. Insiders own 12.28% of the company’s stock.

GameStop Stock Up 1.1 %

GME stock opened at $22.37 on Friday. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.86 billion, a PE ratio of 279.63 and a beta of -0.09. The business has a 50 day moving average of $23.33 and a 200 day moving average of $19.85.

GameStop (NYSE:GME) last posted its quarterly earnings data on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company had revenue of $881.80 million for the quarter, compared to the consensus estimate of $995.30 million. During the same period last year, the business earned ($0.14) EPS. The firm’s quarterly revenue was down 28.7% on a year-over-year basis. On average, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal 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.