PNC Financial Services Group Inc. raised its holdings in shares of GameStop Corp. (NYSE:GME – Free Report) by 21.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,025 shares of the company’s stock after purchasing an additional 2,105 shares during the period. PNC Financial Services Group Inc.’s holdings in GameStop were worth $211,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of GameStop during the 4th quarter worth approximately $55,000. First United Bank & Trust purchased a new position in GameStop during the fourth quarter worth $70,000. Fifth Third Bancorp raised its holdings in shares of GameStop by 50.6% in the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after acquiring an additional 1,445 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of GameStop during the fourth quarter valued at $176,000. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in GameStop during the 4th quarter worth about $184,000. Institutional investors and hedge funds own 29.21% of the company’s stock.
GameStop Stock Performance
GameStop stock opened at $23.99 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.43 billion, a P/E ratio of 299.91 and a beta of -0.10. The stock has a fifty day moving average price of $23.13 and a 200 day moving average price of $17.31. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.
Insider Activity
In related 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 value of $58,320.95. Following the transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the sale, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,274,582.64. The disclosure for this sale can be found here. Insiders sold 24,205 shares of company stock valued at $283,420 in the last ninety days. Company insiders own 12.28% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on GME shares. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Thursday, June 20th. Wedbush decreased their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th.
Check Out Our Latest Stock Report on GameStop
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.
Featured Articles
- Five stocks we like better than GameStop
- Insider Buying Explained: What Investors Need to Know
- RXO Shares Surge Following New Acquisition Deal
- What is a buyback in stocks? A comprehensive guide for investors
- 3 Stock Dips Insiders Are Buying: Vestis, Shenandoah, Treace
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- Biotech Stock Breakout: IBB Eyes Resistance with Amgen and Vertex
Want to see what other hedge funds are holding GME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GameStop Corp. (NYSE:GME – Free Report).
Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.