Amalgamated Bank Purchases 8,323 Shares of GameStop Corp. (NYSE:GME)

Amalgamated Bank raised its position in shares of GameStop Corp. (NYSE:GME) by 4.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,581 shares of the company’s stock after purchasing an additional 8,323 shares during the quarter. Amalgamated Bank’s holdings in GameStop were worth $6,035,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of GameStop during the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new position in GameStop in the 4th quarter valued at approximately $51,000. UMB Bank n.a. boosted its stake in GameStop by 59.9% during the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock worth $112,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of GameStop in the fourth quarter worth $130,000. 29.21% of the stock is 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 business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This 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 company insiders.

GameStop Stock Up 0.8 %

GME opened at $24.62 on Thursday. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 136.80 and a beta of -0.11. The firm has a 50 day moving average price of $28.47 and a 200-day moving average price of $25.43. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

GameStop Company 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.