Shelton Capital Management Boosts Holdings in GameStop Corp. (NYSE:GME)

Shelton Capital Management grew its position in GameStop Corp. (NYSE:GME) by 35.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,639 shares of the company’s stock after purchasing an additional 3,825 shares during the period. Shelton Capital Management’s holdings in GameStop were worth $459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GME. FMR LLC increased its holdings in GameStop by 7.2% during the 3rd quarter. FMR LLC now owns 41,408 shares of the company’s stock worth $949,000 after purchasing an additional 2,793 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of GameStop by 42.9% in the 3rd quarter. Janus Henderson Group PLC now owns 182,905 shares of the company’s stock valued at $4,197,000 after acquiring an additional 54,900 shares during the last quarter. State Street Corp grew its stake in GameStop by 38.0% during the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after buying an additional 3,070,571 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in GameStop during the 3rd quarter worth $1,635,000. Finally, Public Employees Retirement System of Ohio boosted its position in GameStop by 25.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 141,383 shares of the company’s stock worth $3,242,000 after acquiring an additional 28,699 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GME has been the subject of several research analyst reports. Wedbush set a $11.50 price objective on GameStop in a report on Wednesday, March 26th. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

GameStop Stock Up 8.4 %

Shares of NYSE:GME opened at $25.36 on Thursday. The business has a 50 day moving average price of $24.52 and a 200 day moving average price of $25.82. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 140.90 and a beta of -0.44.

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

Insiders Place Their Bets

In other news, CEO Ryan Cohen acquired 500,000 shares of GameStop stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,347,842 shares in the company, valued at approximately $804,845,995.10. The trade was a 1.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the sale, the insider now owns 29,777 shares of the company’s stock, valued at approximately $670,875.81. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

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.