Two Sigma Investments LP bought a new position in shares of GameStop Corp. (NYSE:GME) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,591 shares of the company’s stock, valued at approximately $184,000.
A number of other institutional investors and hedge funds have also made changes to their positions in GME. Paradice Investment Management LLC raised its position in GameStop by 42.4% during the fourth quarter. Paradice Investment Management LLC now owns 1,962,168 shares of the company’s stock worth $24,763,000 after acquiring an additional 583,850 shares during the last quarter. BlackRock Inc. raised its position in GameStop by 3.9% during the third quarter. BlackRock Inc. now owns 14,800,155 shares of the company’s stock worth $225,998,000 after acquiring an additional 550,779 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in GameStop during the fourth quarter worth about $39,000. Signia Capital Management LLC grew its holdings in shares of GameStop by 438.3% during the fourth quarter. Signia Capital Management LLC now owns 458,663 shares of the company’s stock worth $5,788,000 after buying an additional 373,464 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of GameStop during the fourth quarter worth about $4,420,000. Institutional investors own 98.74% of the company’s stock.
GME has been the subject of a number of recent research reports. Loop Capital lowered their price target on shares of GameStop from $15.00 to $12.00 in a report on Tuesday, January 29th. Wedbush set a $15.00 price target on shares of GameStop and gave the stock a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded shares of GameStop from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, February 13th. Jefferies Financial Group downgraded shares of GameStop from a “buy” rating to a “hold” rating and lifted their price target for the stock from $11.50 to $13.00 in a report on Tuesday, January 29th. Finally, ValuEngine upgraded shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $11.22.
GameStop (NYSE:GME) last released its earnings results on Tuesday, April 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.14). GameStop had a negative net margin of 7.71% and a positive return on equity of 14.49%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. GameStop’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, research analysts predict that GameStop Corp. will post 1.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.38 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 16.74%. GameStop’s payout ratio is 71.03%.
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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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