Cipher Capital LP Takes Position in Gamestop Corporation (GME)
Cipher Capital LP acquired a new position in shares of Gamestop Corporation (NYSE:GME) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 76,123 shares of the company’s stock, valued at approximately $1,645,000. Cipher Capital LP owned approximately 0.08% of Gamestop Corporation at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Cubic Asset Management LLC increased its stake in Gamestop Corporation by 0.3% during the 2nd quarter. Cubic Asset Management LLC now owns 39,465 shares of the company’s stock worth $853,000 after buying an additional 125 shares in the last quarter. Fairbanks Capital Management Inc. purchased a new stake in Gamestop Corporation during the 2nd quarter worth approximately $3,494,000. Raymond James Financial Services Advisors Inc. increased its stake in Gamestop Corporation by 1.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,270 shares of the company’s stock worth $322,000 after buying an additional 230 shares in the last quarter. State Treasurer State of Michigan increased its stake in Gamestop Corporation by 0.7% during the 2nd quarter. State Treasurer State of Michigan now owns 41,700 shares of the company’s stock worth $901,000 after buying an additional 300 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Gamestop Corporation by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 42,700 shares of the company’s stock worth $923,000 after buying an additional 300 shares in the last quarter.
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Several equities research analysts have commented on the company. Bank of America Corporation set a $27.00 price objective on Gamestop Corporation and gave the stock a “hold” rating in a research note on Saturday, May 13th. Zacks Investment Research upgraded Gamestop Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Credit Suisse Group set a $20.00 price objective on Gamestop Corporation and gave the stock a “hold” rating in a research note on Sunday, May 28th. ValuEngine lowered Gamestop Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $24.00 price objective on shares of Gamestop Corporation in a research note on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.84.
Gamestop Corporation (GME) opened at 19.34 on Thursday. The company has a 50-day moving average price of $20.88 and a 200-day moving average price of $22.38. The firm has a market capitalization of $1.96 billion, a PE ratio of 5.82 and a beta of 1.19. Gamestop Corporation has a 12-month low of $18.47 and a 12-month high of $28.58.
Gamestop Corporation (NYSE:GME) last released its earnings results on Thursday, August 24th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Gamestop Corporation had a return on equity of 16.66% and a net margin of 3.90%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, analysts predict that Gamestop Corporation will post $3.30 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 7.86%. Gamestop Corporation’s payout ratio is currently 45.65%.
Gamestop Corporation Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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