Balboa Wealth Partners Takes Position in GameStop Corp. (NYSE:GME)

Balboa Wealth Partners bought a new stake in GameStop Corp. (NYSE:GME) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,252 shares of the company’s stock, valued at approximately $258,000.

A number of other large investors have also recently bought and sold shares of the company. Swiss National Bank lifted its position in shares of GameStop by 0.3% in the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after purchasing an additional 1,400 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after buying an additional 3,025 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of GameStop by 2.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 304,884 shares of the company’s stock valued at $3,817,000 after acquiring an additional 8,437 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in GameStop by 2.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock worth $2,438,000 after acquiring an additional 5,411 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in GameStop during the first quarter valued at approximately $154,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Trading Down 3.0 %

Shares of NYSE GME opened at $26.56 on Friday. The company has a market capitalization of $11.33 billion, a P/E ratio of 204.32 and a beta of -0.13. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The stock has a 50 day moving average of $22.15 and a 200-day moving average of $23.09.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. The firm had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The company’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) earnings per share. Analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GME. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush decreased their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the sale, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the transaction, the general counsel now owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock worth $481,000 over the last three months. 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.