Centaurus Financial Inc. Acquires New Position in GameStop Corp. (NYSE:GME)

Centaurus Financial Inc. purchased a new stake in GameStop Corp. (NYSE:GME) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 7,472 shares of the company’s stock, valued at approximately $171,000.

A number of other large investors have also modified their holdings of GME. UMB Bank n.a. boosted its holdings in GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after buying an additional 396 shares during the period. Centerpoint Advisors LLC acquired a new position in shares of GameStop during the second quarter worth about $47,000. GAMMA Investing LLC grew its position in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after buying an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after acquiring an additional 3,025 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of NYSE GME opened at $30.89 on Thursday. The stock’s 50-day simple moving average is $23.40 and its 200-day simple moving average is $24.01. The firm has a market capitalization of $13.17 billion, a PE ratio of 237.63 and a beta of -0.13. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The company had revenue of $798.30 million for the quarter, compared to analysts’ expectations of $895.67 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. On average, sell-side analysts forecast that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the sale, the insider now owns 37,280 shares in the company, valued at approximately $818,668.80. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total transaction of $229,020.00. Following the transaction, the general counsel now owns 43,927 shares in the company, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $481,000 over the last ninety days. Insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

GME has been the subject of several analyst reports. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Saturday, October 19th. Wedbush dropped their target price on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.