JPMorgan Chase & Co. boosted its stake in shares of Gamestop Corporation (NYSE:GME) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,532 shares of the company’s stock after purchasing an additional 5,118 shares during the period. JPMorgan Chase & Co. owned 0.12% of Gamestop Corporation worth $2,647,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Camarda Financial Advisors LLC increased its stake in shares of Gamestop Corporation by 9.4% during the second quarter. Camarda Financial Advisors LLC now owns 5,179 shares of the company’s stock worth $112,000 after purchasing an additional 447 shares during the period. Westpac Banking Corp bought a new position in Gamestop Corporation during the 1st quarter worth $134,000. LS Investment Advisors LLC increased its stake in Gamestop Corporation by 17.3% during the 2nd quarter. LS Investment Advisors LLC now owns 8,236 shares of the company’s stock worth $178,000 after acquiring an additional 1,213 shares during the period. Sei Investments Co. increased its stake in Gamestop Corporation by 22.4% during the 2nd quarter. Sei Investments Co. now owns 9,431 shares of the company’s stock worth $204,000 after acquiring an additional 1,725 shares during the period. Finally, National Planning Corp bought a new position in Gamestop Corporation during the 2nd quarter worth $204,000.
A number of research firms have commented on GME. BidaskClub lowered Gamestop Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Gamestop Corporation in a research note on Tuesday, June 20th. Telsey Advisory Group lowered Gamestop Corporation from an “outperform” rating to a “market perform” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Gamestop Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird restated an “outperform” rating and set a $24.00 price objective on shares of Gamestop Corporation in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.53.
Gamestop Corporation (NYSE:GME) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Gamestop Corporation had a net margin of 3.90% and a return on equity of 16.66%. Gamestop Corporation’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.79%. The ex-dividend date was Thursday, September 7th. Gamestop Corporation’s dividend payout ratio is currently 45.65%.
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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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