American International Group Inc. increased its holdings in Gamestop Corporation (NYSE:GME) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,337 shares of the company’s stock after purchasing an additional 5,008 shares during the quarter. American International Group Inc. owned approximately 0.23% of Gamestop worth $4,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of GME. Systematic Financial Management LP bought a new stake in Gamestop during the 3rd quarter valued at approximately $1,272,000. Cipher Capital LP boosted its position in Gamestop by 90.8% during the 3rd quarter. Cipher Capital LP now owns 145,207 shares of the company’s stock valued at $3,000,000 after acquiring an additional 69,084 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Gamestop during the 3rd quarter valued at approximately $112,000. Ameriprise Financial Inc. boosted its position in shares of Gamestop by 7.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 416,430 shares of the company’s stock worth $8,603,000 after purchasing an additional 28,017 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Gamestop by 32.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 855,428 shares of the company’s stock worth $17,673,000 after purchasing an additional 209,311 shares in the last quarter.
A number of brokerages have recently commented on GME. Zacks Investment Research raised Gamestop from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Telsey Advisory Group cut Gamestop from an “outperform” rating to a “market perform” rating in a research report on Friday, August 11th. Oppenheimer reissued a “hold” rating on shares of Gamestop in a research report on Friday, August 25th. Loop Capital reissued a “buy” rating and issued a $28.00 price target on shares of Gamestop in a research report on Wednesday, August 23rd. Finally, ValuEngine raised Gamestop from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $23.47.
Gamestop (NYSE:GME) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Gamestop had a net margin of 3.98% and a return on equity of 16.50%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. equities research analysts predict that Gamestop Corporation will post 3.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.52 dividend on an annualized basis and a yield of 7.84%. Gamestop’s payout ratio is currently 44.31%.
In related news, Director Stephanie M. Shern sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $17.91, for a total value of $71,640.00. Following the completion of the transaction, the director now directly owns 13,474 shares in the company, valued at approximately $241,319.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by insiders.
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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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