GameStop Corp. (NYSE:GME) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC cut its position in GameStop Corp. (NYSE:GME) by 23.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,347 shares of the company’s stock after selling 4,357 shares during the quarter. Merit Financial Group LLC’s holdings in GameStop were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GME. Fifth Third Wealth Advisors LLC bought a new stake in GameStop during the fourth quarter worth approximately $252,000. Christensen King & Associates Investment Services Inc. boosted its stake in shares of GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock valued at $853,000 after buying an additional 518 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of GameStop during the 4th quarter valued at about $376,000. GAMMA Investing LLC raised its holdings in shares of GameStop by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after purchasing an additional 1,414 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of GameStop by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company’s stock valued at $17,750,000 after acquiring an additional 244,339 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research note on Friday, December 6th.

GameStop Trading Up 2.5 %

NYSE:GME opened at $28.33 on Friday. The firm has a 50 day moving average of $29.51 and a 200-day moving average of $25.01. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The stock has a market capitalization of $12.66 billion, a P/E ratio of 157.40 and a beta of -0.02.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, 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.