New Wave Wealth Advisors LLC Invests $37,000 in GameStop Corp. (NYSE:GME)

New Wave Wealth Advisors LLC acquired a new position in GameStop Corp. (NYSE:GME) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,169 shares of the company’s stock, valued at approximately $37,000.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after buying an additional 959 shares during the last quarter. R Squared Ltd bought a new position in shares of GameStop in the 4th quarter valued at about $51,000. CWM LLC increased its position in shares of GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after acquiring an additional 529 shares during the last quarter. GAMMA Investing LLC increased its position in shares of GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in GameStop during the third quarter worth about $171,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on GME shares. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush reissued an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research note on Friday, December 6th.

GameStop Price Performance

GameStop stock opened at $27.05 on Friday. The company’s 50-day moving average is $29.55 and its 200-day moving average is $25.12. The firm has a market capitalization of $12.09 billion, a PE ratio of 150.31 and a beta of -0.02. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

GameStop Company 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.