Cornerstone Wealth Management LLC Sells 5,603 Shares of GameStop Corp. (NYSE:GME)

Cornerstone Wealth Management LLC decreased its holdings in shares of GameStop Corp. (NYSE:GME) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,430 shares of the company’s stock after selling 5,603 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in GameStop were worth $734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its position in GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after acquiring an additional 959 shares during the last quarter. CWM LLC boosted its stake in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares during the period. GAMMA Investing LLC grew its holdings in shares of GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock worth $112,000 after purchasing an additional 1,414 shares during the last quarter. Centaurus Financial Inc. purchased a new position in GameStop in the 3rd quarter worth about $171,000. Finally, American Century Companies Inc. bought a new stake in GameStop during the 2nd quarter valued at about $207,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This represents a 3.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

GameStop Stock Performance

NYSE:GME opened at $27.84 on Friday. The firm has a 50-day simple moving average of $29.55 and a 200-day simple moving average of $25.06. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83. The firm has a market cap of $12.44 billion, a P/E ratio of 154.67 and a beta of -0.02.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The business’s revenue for the quarter was down 20.2% compared to the same quarter last year. On average, research analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GME has been the topic of a number of research reports. Wedbush reaffirmed an “underperform” rating and set a $10.00 target price on shares of GameStop in a research report on Friday, December 6th. StockNews.com upgraded GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop 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.