BlackRock Inc. raised its position in shares of Gamestop Corporation (NYSE:GME) by 11,239.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,262,281 shares of the company’s stock after buying an additional 8,189,420 shares during the period. BlackRock Inc. owned 8.16% of Gamestop Corporation worth $186,314,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Westpac Banking Corp acquired a new stake in Gamestop Corporation during the first quarter worth $134,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Gamestop Corporation by 151.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,572 shares of the company’s stock worth $116,000 after buying an additional 2,754 shares in the last quarter. James Investment Research Inc. boosted its stake in Gamestop Corporation by 21.0% in the first quarter. James Investment Research Inc. now owns 4,630 shares of the company’s stock worth $104,000 after buying an additional 805 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gamestop Corporation by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock worth $149,000 after buying an additional 3,700 shares in the last quarter. Finally, Parkwood LLC boosted its stake in Gamestop Corporation by 23.3% in the first quarter. Parkwood LLC now owns 9,879 shares of the company’s stock worth $223,000 after buying an additional 1,864 shares in the last quarter.
Gamestop Corporation (GME) opened at 21.10 on Friday. The stock has a 50 day moving average price of $21.36 and a 200 day moving average price of $23.27. Gamestop Corporation has a 52-week low of $20.10 and a 52-week high of $32.67. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 6.29 and a beta of 1.20.
Gamestop Corporation (NYSE:GME) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. Gamestop Corporation had a net margin of 3.99% and a return on equity of 17.55%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Gamestop Corporation’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Gamestop Corporation will post $3.32 EPS for the current fiscal year.
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A number of research firms recently weighed in on GME. Bank of America Corporation set a $27.00 price target on Gamestop Corporation and gave the company a “hold” rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Gamestop Corporation in a report on Saturday, March 25th. Wedbush set a $25.00 price target on Gamestop Corporation and gave the company a “buy” rating in a report on Saturday, March 25th. Credit Suisse Group set a $20.00 price target on Gamestop Corporation and gave the company a “hold” rating in a report on Sunday, May 28th. Finally, ValuEngine cut Gamestop Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.64.
About Gamestop Corporation
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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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