Pacer Advisors Inc. Sells 178,694 Shares of GameStop Corp. $GME

by · The Cerbat Gem

Pacer Advisors Inc. lessened its stake in GameStop Corp. (NYSE:GME – Free Report) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 932,179 shares of the company’s stock after selling 178,694 shares during the quarter. Pacer Advisors Inc. owned 0.21% of GameStop worth $25,430,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in GameStop by 226.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after acquiring an additional 886 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of GameStop in the 2nd quarter valued at about $45,000. Hantz Financial Services Inc. lifted its holdings in shares of GameStop by 1,523.7% in the second quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company’s stock valued at $52,000 after purchasing an additional 1,996 shares in the last quarter. UMB Bank n.a. boosted its position in shares of GameStop by 17.4% during the second quarter. UMB Bank n.a. now owns 4,287 shares of the company’s stock worth $105,000 after buying an additional 636 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of GameStop during the third quarter worth about $122,000. Institutional investors own 29.21% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 4,449 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $122,703.42. Following the transaction, the general counsel directly owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 6,509 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total transaction of $179,518.22. Following the completion of the transaction, the insider directly owned 112,620 shares in the company, valued at $3,106,059.60. The trade was a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 8.58% of the company’s stock.

GameStop Price Performance

NYSE:GME opened at $21.08 on Friday. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $35.81. The company has a market cap of $9.44 billion, a P/E ratio of 25.70 and a beta of -1.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39. The stock’s 50-day simple moving average is $22.01 and its 200 day simple moving average is $23.21.

GameStop (NYSE:GME – Get Free Report) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. GameStop had a return on equity of 9.75% and a net margin of 11.08%.The firm had revenue of $821.00 million during the quarter, compared to the consensus estimate of $987.29 million. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GameStop in a research report on Monday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.50.

Read Our Latest Research Report on GME

GameStop Company Profile

(Free Report)

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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