Fifth Third Bancorp Has $177,000 Holdings in GameStop Corp. (NYSE:GME)

Fifth Third Bancorp lifted its position in GameStop Corp. (NYSE:GME) by 11.1% in the 4th quarter, Holdings Channel reports. The fund owned 5,648 shares of the company’s stock after buying an additional 566 shares during the period. Fifth Third Bancorp’s holdings in GameStop were worth $177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares in the last quarter. CWM LLC lifted its stake in GameStop by 19.9% in the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after acquiring an additional 529 shares in the last quarter. GAMMA Investing LLC lifted its stake in GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock worth $112,000 after acquiring an additional 1,414 shares in the last quarter. Joule Financial LLC acquired a new stake in GameStop during the 4th quarter worth about $229,000. Finally, Centaurus Financial Inc. purchased a new position in GameStop during the 3rd quarter valued at about $171,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Price Performance

Shares of GME stock opened at $27.05 on Friday. The firm has a market cap of $12.09 billion, a P/E 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. The stock’s 50-day moving average is $29.55 and its two-hundred day moving average is $25.12.

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

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents 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 the SEC website. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GME has been the subject of several research reports. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Saturday, October 19th. Wedbush reissued an “underperform” rating and set a $10.00 target price on shares of GameStop in a research note on Friday, December 6th.

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.