Pictet Asset Management Holding SA Grows Position in GameStop Corp. (NYSE:GME)

Pictet Asset Management Holding SA boosted its stake in shares of GameStop Corp. (NYSE:GME) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,541 shares of the company’s stock after purchasing an additional 6,070 shares during the period. Pictet Asset Management Holding SA’s holdings in GameStop were worth $1,897,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. raised its position in shares of GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after buying an additional 520 shares during the period. Norges Bank purchased a new position in shares of GameStop in the 4th quarter worth about $2,012,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after purchasing an additional 684 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of GameStop by 2.3% in the 4th quarter. Prudential Financial Inc. now owns 28,134 shares of the company’s stock valued at $882,000 after purchasing an additional 640 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in shares of GameStop by 11.8% during the 4th quarter. United Services Automobile Association now owns 25,158 shares of the company’s stock worth $788,000 after purchasing an additional 2,658 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a research report on Wednesday, March 26th.

GameStop Stock Performance

Shares of NYSE:GME opened at $23.34 on Friday. The business’s 50-day simple moving average is $24.83 and its 200 day simple moving average is $25.69. The company has a market cap of $10.44 billion, a P/E ratio of 129.68 and a beta of -0.29. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83.

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

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $36,228.24. Following the sale, the insider now directly owns 29,777 shares in the company, valued at $670,875.81. The trade was a 5.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the transaction, the general counsel now owns 37,663 shares of the company’s stock, valued at approximately $848,547.39. This trade represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

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.