Dimensional Fund Advisors LP Raises Position in GameStop Corp. (GME)
Dimensional Fund Advisors LP boosted its stake in shares of GameStop Corp. (NYSE:GME) by 13.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,911,387 shares of the company’s stock after buying an additional 469,556 shares during the period. Dimensional Fund Advisors LP owned approximately 3.76% of GameStop Corp. worth $103,963,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in GameStop Corp. by 4.4% in the first quarter. Geode Capital Management LLC now owns 917,726 shares of the company’s stock worth $29,065,000 after buying an additional 39,043 shares during the last quarter. Credit Agricole S A raised its position in GameStop Corp. by 87.9% in the first quarter. Credit Agricole S A now owns 33,162 shares of the company’s stock worth $1,051,000 after buying an additional 15,509 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in GameStop Corp. by 86.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 84,878 shares of the company’s stock worth $2,256,000 after buying an additional 39,442 shares during the last quarter. Prudential PLC raised its position in GameStop Corp. by 10.0% in the first quarter. Prudential PLC now owns 275,000 shares of the company’s stock worth $8,726,000 after buying an additional 25,000 shares during the last quarter. Finally, State Treasurer State of Michigan raised its position in GameStop Corp. by 15.8% in the second quarter. State Treasurer State of Michigan now owns 41,700 shares of the company’s stock worth $1,108,000 after buying an additional 5,698 shares during the last quarter.
GameStop Corp. (NYSE:GME) traded down 0.72% on Tuesday, hitting $27.70. The stock had a trading volume of 752,231 shares. GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 7.30 and a beta of 1.03. The company’s 50 day moving average price is $29.45 and its 200 day moving average price is $29.55.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm earned $1.63 billion during the quarter, compared to analyst estimates of $1.73 billion. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. GameStop Corp.’s revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. Analysts expect that GameStop Corp. will post $3.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Friday, September 9th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.30%. The ex-dividend date is Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is currently 39.05%.
A number of equities analysts have recently commented on GME shares. Wedbush reaffirmed a “buy” rating on shares of GameStop Corp. in a report on Wednesday, August 17th. Zacks Investment Research raised GameStop Corp. from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Wednesday, July 27th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $41.00 price target on shares of GameStop Corp. in a report on Friday, June 17th. Vetr raised GameStop Corp. from a “buy” rating to a “strong-buy” rating and set a $33.63 price target for the company in a report on Monday, August 29th. Finally, Telsey Advisory Group raised GameStop Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Monday, June 27th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.57.
In other news, EVP Michael Mauler bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average price of $26.91 per share, with a total value of $269,100.00. Following the acquisition, the executive vice president now owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.
About GameStop Corp.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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