GAMMA Investing LLC Raises Holdings in GameStop Corp. (NYSE:GME)

GAMMA Investing LLC grew its position in shares of GameStop Corp. (NYSE:GME) by 65.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,564 shares of the company’s stock after buying an additional 1,414 shares during the period. GAMMA Investing LLC’s holdings in GameStop were worth $112,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GME. UMB Bank n.a. lifted its holdings in GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after purchasing an additional 959 shares in the last quarter. CWM LLC lifted its holdings in GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after purchasing an additional 529 shares in the last quarter. Quest Partners LLC lifted its holdings in GameStop by 7,156.5% during the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock worth $152,000 after purchasing an additional 6,083 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in GameStop during the 3rd quarter worth about $171,000. Finally, American Century Companies Inc. bought a new position in GameStop in the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Insider Activity

In related news, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the sale, the general counsel now owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

GameStop Trading Down 2.0 %

Shares of GameStop stock opened at $32.31 on Friday. The firm has a market capitalization of $14.44 billion, a PE ratio of 179.51 and a beta of -0.02. The business’s 50-day moving average price is $28.96 and its 200-day moving average price is $24.80. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to analyst estimates of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on GME. Wedbush restated an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research note on Friday, December 6th. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th.

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.