Systematic Financial Management LP reduced its position in shares of GameStop Corp. (NYSE:GME) by 18.5% during the second quarter, Holdings Channel.com reports. The fund owned 72,765 shares of the company’s stock after selling 16,535 shares during the quarter. Systematic Financial Management LP’s holdings in GameStop were worth $398,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in GameStop during the first quarter worth about $51,000. Investors Research Corp purchased a new position in GameStop in the 1st quarter worth about $55,000. Handelsbanken Fonder AB purchased a new position in GameStop in the 2nd quarter worth about $65,000. Strs Ohio purchased a new position in GameStop in the 2nd quarter worth about $79,000. Finally, Everence Capital Management Inc. purchased a new position in GameStop in the 1st quarter worth about $111,000. 98.68% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. Ascendiant Capital Markets cut GameStop from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research note on Wednesday, June 5th. Benchmark reissued a “sell” rating and issued a $5.00 price target (down previously from $9.00) on shares of GameStop in a research note on Wednesday, June 5th. Bank of America set a $4.00 price target on GameStop and gave the stock a “sell” rating in a research note on Wednesday, June 5th. Loop Capital set a $7.00 price target on GameStop and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, Wedbush set a $9.00 price target on GameStop and gave the stock a “buy” rating in a research note on Thursday, July 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.10.
GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company posted $0.38 EPS. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts forecast that GameStop Corp. will post 1.5 EPS for the current fiscal year.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. 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 for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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