Christensen King & Associates Investment Services Inc. Sells 1,636 Shares of GameStop Corp. (NYSE:GME)

Christensen King & Associates Investment Services Inc. decreased its holdings in GameStop Corp. (NYSE:GME) by 5.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,879 shares of the company’s stock after selling 1,636 shares during the period. Christensen King & Associates Investment Services Inc.’s holdings in GameStop were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Van ECK Associates Corp grew its holdings in GameStop by 14.2% in the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after purchasing an additional 209,861 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after buying an additional 342,178 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock valued at $12,662,000 after buying an additional 25,159 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of GameStop by 0.3% during the first 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 during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GME shares. StockNews.com raised shares of GameStop to a “sell” rating in a report on Saturday. Wedbush dropped their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other GameStop news, insider Daniel William Moore sold 2,624 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the transaction, the insider now owns 32,280 shares in the company, valued at approximately $677,880. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the transaction, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock worth $481,000 over the last three months. Company insiders own 12.28% of the company’s stock.

GameStop Stock Up 0.1 %

Shares of GME traded up $0.03 during trading hours on Tuesday, reaching $20.73. 2,353,723 shares of the company traded hands, compared to its average volume of 20,229,119. The stock has a market capitalization of $7.28 billion, a P/E ratio of 258.25 and a beta of -0.19. The business has a fifty day moving average price of $21.71 and a 200-day moving average price of $21.66. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, research analysts predict that GameStop Corp. will post 0.01 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.