CANADA LIFE ASSURANCE Co Buys 29,691 Shares of GameStop Corp. (NYSE:GME)

CANADA LIFE ASSURANCE Co boosted its stake in GameStop Corp. (NYSE:GME) by 10.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 325,614 shares of the company’s stock after acquiring an additional 29,691 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in GameStop were worth $10,192,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in GameStop by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock worth $294,000 after purchasing an additional 502 shares in the last quarter. Christensen King & Associates Investment Services Inc. grew its holdings in GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after acquiring an additional 518 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after acquiring an additional 520 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of GameStop by 2.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock worth $575,000 after purchasing an additional 523 shares during the period. Finally, Securian Asset Management Inc. increased its holdings in GameStop by 1.8% in the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock valued at $963,000 after purchasing an additional 557 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GME shares. Wedbush set a $11.50 price target on GameStop in a research note on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th.

GameStop Stock Performance

Shares of NYSE:GME opened at $26.80 on Tuesday. The firm has a market cap of $11.98 billion, a P/E ratio of 148.90 and a beta of -0.44. GameStop Corp. has a 52-week low of $10.01 and a 52-week high of $64.83. The business’s 50 day simple moving average is $24.64 and its two-hundred day simple moving average is $26.09.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business’s revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alain Attal acquired 10,000 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were acquired at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the purchase, the director now owns 572,464 shares in the company, valued at approximately $14,740,948. The trade was a 1.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Cohen bought 500,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the acquisition, the chief executive officer now owns 37,347,842 shares of the company’s stock, valued at $804,845,995.10. The trade was a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 515,000 shares of company stock worth $11,140,200 in the last quarter. Insiders own 12.28% of the company’s stock.

About GameStop

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.