GameStop Corp. (NYSE:GME) Position Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in GameStop Corp. (NYSE:GME) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,541 shares of the company’s stock after buying an additional 6,070 shares during the quarter. Pictet Asset Management Holding SA’s holdings in GameStop were worth $1,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after acquiring an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in GameStop in the fourth quarter worth $37,000. R Squared Ltd acquired a new position in GameStop in the fourth quarter worth $51,000. UMB Bank n.a. increased its stake in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after purchasing an additional 520 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on GameStop in a research report on Wednesday, March 26th.

GameStop Stock Performance

GME stock opened at $23.34 on Friday. 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 $10.44 billion, a price-to-earnings ratio of 129.68 and a beta of -0.29. The stock’s fifty day moving average is $24.83 and its two-hundred day moving average is $25.69.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $0.21 EPS. GameStop’s revenue was down 28.5% on a year-over-year basis. As a group, analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 4,687 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the completion of the sale, the general counsel now owns 37,663 shares of the company’s stock, valued at $848,547.39. This represents a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the transaction, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

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.