Adams Asset Advisors LLC grew its holdings in shares of GameStop Corp. (NYSE:GME) by 118.6% in the 2nd quarter, Holdings Channel reports. The firm owned 103,301 shares of the company’s stock after purchasing an additional 56,046 shares during the quarter. Adams Asset Advisors LLC’s holdings in GameStop were worth $1,505,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in shares of GameStop by 325.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 33,310 shares of the company’s stock valued at $485,000 after purchasing an additional 25,480 shares during the last quarter. XR Securities LLC purchased a new stake in shares of GameStop during the 2nd quarter valued at $150,000. Principal Financial Group Inc. lifted its holdings in shares of GameStop by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 443,813 shares of the company’s stock valued at $5,601,000 after purchasing an additional 7,986 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of GameStop during the 1st quarter valued at $4,959,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of GameStop by 78.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 22,276 shares of the company’s stock valued at $281,000 after purchasing an additional 9,800 shares during the last quarter.
GME has been the subject of several analyst reports. Zacks Investment Research lowered GameStop from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Loop Capital set a $26.00 target price on GameStop and gave the stock a “buy” rating in a research note on Wednesday, March 21st. Wedbush set a $23.00 target price on GameStop and gave the stock a “buy” rating in a research note on Monday, March 26th. Bank of America lowered GameStop from a “neutral” rating to an “underperform” rating and set a $11.00 target price for the company. in a research note on Thursday, March 29th. Finally, Telsey Advisory Group reduced their target price on GameStop from $19.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, March 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.23.
GME traded down $0.16 during midday trading on Wednesday, hitting $14.70. 2,287,687 shares of the company were exchanged, compared to its average volume of 4,783,071. The company has a market capitalization of $1.58 billion, a P/E ratio of 4.37, a P/E/G ratio of 0.33 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.45 and a current ratio of 1.52. GameStop Corp. has a 1-year low of $12.20 and a 1-year high of $22.37.
GameStop (NYSE:GME) last announced its quarterly earnings results on Friday, June 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.96 billion. GameStop had a return on equity of 13.92% and a net margin of 0.04%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. analysts forecast that GameStop Corp. will post 3.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 26th. Shareholders of record on Tuesday, June 12th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 10.34%. The ex-dividend date of this dividend was Monday, June 11th. GameStop’s dividend payout ratio is currently 45.51%.
GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.
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