GameStop Corp. (NYSE:GME) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. raised its position in GameStop Corp. (NYSE:GME) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 459,671 shares of the company’s stock after buying an additional 1,111 shares during the period. Corebridge Financial Inc.’s holdings in GameStop were worth $14,406,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in shares of GameStop in the 4th quarter valued at approximately $37,000. R Squared Ltd bought a new position in GameStop during the 4th quarter valued at $51,000. UMB Bank n.a. grew its holdings in GameStop by 59.9% during the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after acquiring an additional 682 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of GameStop in the 4th quarter worth about $99,000. Finally, GAMMA Investing LLC raised its stake in shares of GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after purchasing an additional 1,414 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Price Performance

Shares of GME opened at $25.37 on Wednesday. The stock has a fifty day moving average price of $25.59 and a 200 day moving average price of $25.67. The company has a market cap of $11.34 billion, a P/E ratio of 140.95 and a beta of -0.29. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $0.21 EPS. GameStop’s revenue was down 28.5% on a year-over-year basis. As a group, research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity at GameStop

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

Wall Street Analyst Weigh In

Separately, Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research note on Monday.

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.