Comerica Bank increased its position in GameStop Corp. (NYSE:GME - Get Rating) by 301.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,454 shares of the company's stock after buying an additional 85,168 shares during the quarter. Comerica Bank's holdings in GameStop were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other hedge funds also recently bought and sold shares of the company. Securian Asset Management Inc. lifted its position in GameStop by 309.4% in the 3rd quarter. Securian Asset Management Inc. now owns 23,079 shares of the company's stock worth $580,000 after buying an additional 17,442 shares during the last quarter. US Bancorp DE lifted its position in GameStop by 303.5% in the 3rd quarter. US Bancorp DE now owns 2,336 shares of the company's stock worth $59,000 after buying an additional 1,757 shares during the last quarter. Van ECK Associates Corp lifted its position in GameStop by 377.9% in the third quarter. Van ECK Associates Corp now owns 76,199 shares of the company's stock valued at $1,915,000 after purchasing an additional 60,253 shares during the last quarter. CWM LLC lifted its position in GameStop by 246.9% in the third quarter. CWM LLC now owns 1,752 shares of the company's stock valued at $44,000 after purchasing an additional 1,247 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in GameStop by 300.0% in the third quarter. Handelsbanken Fonder AB now owns 42,000 shares of the company's stock valued at $1,055,000 after purchasing an additional 31,500 shares during the last quarter. Institutional investors own 25.57% of the company's stock.
GameStop Price Performance
GME opened at $20.49 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.63. GameStop Corp. has a 52-week low of $15.41 and a 52-week high of $49.85. The stock has a market capitalization of $6.24 billion, a PE ratio of -12.23 and a beta of -0.23. The stock's 50 day moving average price is $22.33 and its 200-day moving average price is $27.75.
GameStop (NYSE:GME - Get Rating) last posted its earnings results on Wednesday, December 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). GameStop had a negative net margin of 8.54% and a negative return on equity of 35.44%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the firm posted ($0.35) earnings per share. GameStop's quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts predict that GameStop Corp. will post -1.34 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. StockNews.com upgraded GameStop to a "sell" rating in a research report on Thursday, January 5th. Wedbush lowered their price objective on GameStop from $6.00 to $5.30 and set an "underperform" rating for the company in a research report on Thursday, December 8th.
GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.
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