Cornerstone Capital Management Holdings LLC. Reduces Holdings in Gamestop Corporation (GME)

Cornerstone Capital Management Holdings LLC. lowered its stake in Gamestop Corporation (NYSE:GME) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 742,138 shares of the company’s stock after selling 77,490 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.73% of Gamestop worth $15,331,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Gamestop by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 8,536,127 shares of the company’s stock valued at $176,357,000 after buying an additional 34,512 shares in the last quarter. State Street Corp raised its stake in Gamestop by 1.6% during the 2nd quarter. State Street Corp now owns 3,020,149 shares of the company’s stock valued at $65,265,000 after purchasing an additional 46,169 shares during the period. Bank of New York Mellon Corp raised its stake in Gamestop by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,378,388 shares of the company’s stock valued at $51,398,000 after purchasing an additional 24,784 shares during the period. Numeric Investors LLC acquired a new stake in Gamestop during the 2nd quarter valued at $34,679,000. Finally, Prudential Financial Inc. raised its stake in Gamestop by 10.9% during the 2nd quarter. Prudential Financial Inc. now owns 1,570,422 shares of the company’s stock valued at $33,936,000 after purchasing an additional 154,861 shares during the period.

Several analysts have issued reports on GME shares. Zacks Investment Research raised shares of Gamestop from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 25th. SunTrust Banks reissued a “buy” rating and set a $25.00 target price on shares of Gamestop in a research note on Tuesday, October 17th. ValuEngine raised shares of Gamestop from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Robert W. Baird reissued a “buy” rating and set a $24.00 target price on shares of Gamestop in a research note on Tuesday, September 26th. Finally, Loop Capital reissued a “buy” rating and set a $28.00 target price on shares of Gamestop in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.47.

In related news, Director Stephanie M. Shern sold 4,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 13,474 shares in the company, valued at $241,319.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Gamestop Corporation (NYSE:GME) traded up $0.57 during trading on Monday, hitting $19.20. 3,142,000 shares of the stock traded hands, compared to its average volume of 2,874,356. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.38 and a current ratio of 1.20. Gamestop Corporation has a fifty-two week low of $15.85 and a fifty-two week high of $26.84. The stock has a market cap of $1,945.05, a PE ratio of 5.19, a P/E/G ratio of 0.39 and a beta of 1.26.

Gamestop (NYSE:GME) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.43 by $0.11. Gamestop had a net margin of 3.98% and a return on equity of 16.50%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the company posted $0.49 EPS. Gamestop’s revenue was up 1.5% on a year-over-year basis. research analysts anticipate that Gamestop Corporation will post 3.3 earnings per share for the current year.

The firm 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. This represents a $1.52 dividend on an annualized basis and a yield of 7.92%. The ex-dividend date is Thursday, November 30th. Gamestop’s dividend payout ratio is presently 44.31%.

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About Gamestop

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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Institutional Ownership by Quarter for Gamestop (NYSE:GME)

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