GameStop Corp. (NYSE:GME) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. boosted its stake in shares of GameStop Corp. (NYSE:GME) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 459,671 shares of the company’s stock after buying an additional 1,111 shares during the quarter. Corebridge Financial Inc. owned 0.10% of GameStop worth $14,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in GameStop by 19.2% in the 3rd quarter. Victory Capital Management Inc. now owns 72,982 shares of the company’s stock valued at $1,673,000 after purchasing an additional 11,749 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of GameStop by 40.0% in the third quarter. Thrivent Financial for Lutherans now owns 91,868 shares of the company’s stock valued at $2,107,000 after buying an additional 26,259 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of GameStop by 22.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after buying an additional 646,488 shares during the last quarter. Algert Global LLC boosted its position in shares of GameStop by 270.5% in the 3rd quarter. Algert Global LLC now owns 150,526 shares of the company’s stock worth $3,452,000 after buying an additional 109,900 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in GameStop by 110.8% in the 3rd quarter. Penserra Capital Management LLC now owns 47,118 shares of the company’s stock valued at $1,080,000 after acquiring an additional 24,761 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 42,350 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 895 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 value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an “underperform” rating and issued a $10.00 price target on shares of GameStop in a report on Monday.

GameStop Stock Performance

Shares of NYSE:GME opened at $25.37 on Wednesday. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83. The stock has a market cap of $11.34 billion, a PE ratio of 140.95 and a beta of -0.29. The business’s fifty day moving average price is $25.59 and its two-hundred day moving average price is $25.67.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $0.21 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis. As a group, equities research analysts predict that GameStop Corp. will post 0.08 earnings per share 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.