Mon Nov 04 14:50:00 UTC 2024: ## GameStop Sees Increased Institutional Interest Despite Insider Selling

**Sioux Falls, SD** – Van ECK Associates Corp, a prominent institutional investor, increased its stake in GameStop Corp. (NYSE:GME) by 8.1% during the third quarter, according to a recent SEC filing. This boost in holdings comes amidst continued insider selling, as General Counsel Mark Haymond Robinson and insider Daniel William Moore offloaded shares of the company in separate transactions earlier this month.

Van ECK Associates Corp now owns 1,825,837 shares of GameStop, representing 0.52% of the company’s total value. Other institutional investors have also shown interest in the struggling video game retailer, with UMB Bank n.a. significantly increasing its position by 535.8% during the third quarter. However, despite this uptick in institutional interest, insider selling remains a concern. Over the past 90 days, company insiders have sold a total of 22,639 shares, valued at $481,000.

While analysts at StockNews.com upgraded GameStop to a “sell” rating, Wedbush downgraded their target price for the company, reflecting ongoing uncertainty surrounding its future prospects.

GameStop reported earnings for the third quarter on September 10th, exceeding analysts’ expectations with an earnings per share of $0.01. However, revenue for the quarter fell 31.4% compared to the same period last year, raising concerns about the company’s ability to sustain growth.

Despite the mixed signals, GameStop remains a hot topic in the market, with its stock price fluctuating between a 52-week low of $9.95 and a high of $64.83.

**MarketBeat** continues to track the stock recommendations of top-rated analysts, and while GameStop currently holds a “Sell” rating, they believe other stocks hold greater promise for investors.

**The full report can be accessed on MarketBeat.com**

Read More