Voya Investment Management LLC Lowers Holdings in GameStop Corp. (NYSE:GME)

Voya Investment Management LLC lowered its position in shares of GameStop Corp. (NYSE:GME) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,658 shares of the company’s stock after selling 1,099 shares during the period. Voya Investment Management LLC’s holdings in GameStop were worth $4,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 worth $31,000 after acquiring an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in GameStop in the fourth quarter valued at about $37,000. R Squared Ltd bought a new position in GameStop in the fourth quarter worth about $51,000. Bessemer Group Inc. lifted its position in shares of GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after buying an additional 691 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after buying an additional 682 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Price Performance

GME stock opened at $27.44 on Friday. The firm’s fifty day simple moving average is $24.78 and its 200-day simple moving average is $26.38. GameStop Corp. has a 12 month low of $10.96 and a 12 month high of $64.83. The company has a market capitalization of $12.27 billion, a P/E ratio of 152.44 and a beta of -0.44.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, sell-side analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity at GameStop

In related news, insider Daniel William Moore sold 1,608 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lawrence Cheng purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $21.54 per share, for a total transaction of $107,700.00. Following the purchase, the director now owns 83,000 shares in the company, valued at approximately $1,787,820. The trade was a 6.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush set a $11.50 target price on GameStop in a research note on Wednesday, March 26th.

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.