GameStop Corp. (GME) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in shares of GameStop Corp. (NYSE:GME) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,259,629 shares of the company’s stock after purchasing an additional 135,874 shares during the quarter. Advisors Asset Management Inc. owned about 1.24% of GameStop worth $18,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GME. Laurel Wealth Advisors Inc. purchased a new stake in shares of GameStop in the first quarter valued at $131,000. Verition Fund Management LLC purchased a new stake in shares of GameStop during the first quarter worth $143,000. Fortis Advisors LLC purchased a new stake in shares of GameStop during the second quarter worth $144,000. Eads & Heald Wealth Management purchased a new stake in shares of GameStop during the second quarter worth $147,000. Finally, XR Securities LLC purchased a new stake in shares of GameStop during the second quarter worth $150,000.

Shares of NYSE:GME traded down $0.04 during trading on Thursday, reaching $14.86. The stock had a trading volume of 2,139,332 shares, compared to its average volume of 4,077,079. GameStop Corp. has a 52 week low of $12.20 and a 52 week high of $20.31. The company has a current ratio of 1.45, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.52 billion, a P/E ratio of 4.45 and a beta of 1.13.

GameStop (NYSE:GME) last posted its earnings results on Thursday, September 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). GameStop had a negative net margin of 0.48% and a positive return on equity of 13.78%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.15 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, analysts forecast that GameStop Corp. will post 3.05 EPS for the current fiscal year.

Several equities analysts have commented on GME shares. Jefferies Financial Group set a $18.00 price target on GameStop and gave the company a “buy” rating in a research report on Wednesday, September 5th. Bank of America set a $10.00 price target on GameStop and gave the company a “sell” rating in a research report on Saturday, October 20th. Wedbush set a $19.00 target price on GameStop and gave the stock a “buy” rating in a research report on Friday, September 7th. Zacks Investment Research downgraded GameStop from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Finally, Credit Suisse Group set a $15.00 target price on GameStop and gave the stock a “hold” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.73.

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GameStop Profile

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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