Triumph Capital Management Takes $253,000 Position in GameStop Corp. (NYSE:GME)

Triumph Capital Management purchased a new stake in shares of GameStop Corp. (NYSE:GME) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,067 shares of the company’s stock, valued at approximately $253,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of GameStop by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock valued at $113,146,000 after buying an additional 107,354 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of GameStop during the fourth quarter valued at approximately $878,000. Bank of New York Mellon Corp grew its holdings in shares of GameStop by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock valued at $80,401,000 after buying an additional 60,673 shares during the last quarter. Swiss National Bank grew its holdings in shares of GameStop by 5.5% during the fourth quarter. Swiss National Bank now owns 834,228 shares of the company’s stock valued at $26,145,000 after buying an additional 43,700 shares during the last quarter. Finally, Slate Path Capital LP purchased a new stake in shares of GameStop during the fourth quarter valued at approximately $60,361,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

GME has been the topic of a number of research analyst reports. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price objective on shares of GameStop in a research report on Wednesday, March 26th.

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,687 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the sale, the general counsel now owns 37,663 shares of the company’s stock, valued at approximately $848,547.39. The trade was a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the sale, the insider now owns 29,777 shares in the company, valued at $670,875.81. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 515,000 shares of company stock worth $11,140,200 in the last 90 days. 12.28% of the stock is currently owned by insiders.

GameStop Stock Down 0.7%

Shares of GameStop stock opened at $28.43 on Friday. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 157.98 and a beta of -0.76. The company’s 50 day moving average is $25.52 and its 200 day moving average is $26.88. GameStop Corp. has a twelve month low of $17.70 and a twelve month high of $48.00.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. Sell-side analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

GameStop Company Profile

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.