BlueCrest Capital Management Ltd Invests $20.99 Million in GameStop Corp. $GME

BlueCrest Capital Management Ltd bought a new stake in shares of GameStop Corp. (NYSE:GME) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 860,585 shares of the company’s stock, valued at approximately $20,990,000. GameStop makes up about 0.8% of BlueCrest Capital Management Ltd’s investment portfolio, making the stock its 17th largest holding. BlueCrest Capital Management Ltd owned approximately 0.19% of GameStop as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GME. EverSource Wealth Advisors LLC boosted its position in GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after acquiring an additional 886 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in GameStop during the 2nd quarter valued at about $45,000. Hantz Financial Services Inc. boosted its stake in GameStop by 1,523.7% during the second quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company’s stock worth $52,000 after acquiring an additional 1,996 shares in the last quarter. US Bancorp DE grew its holdings in GameStop by 92.5% in the first quarter. US Bancorp DE now owns 3,726 shares of the company’s stock worth $83,000 after purchasing an additional 1,790 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of GameStop by 17.4% during the second quarter. UMB Bank n.a. now owns 4,287 shares of the company’s stock valued at $105,000 after purchasing an additional 636 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 6,509 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $179,518.22. Following the sale, the insider directly owned 112,620 shares in the company, valued at approximately $3,106,059.60. This trade represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of GameStop stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $122,703.42. Following the completion of the sale, the general counsel directly owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. The trade was a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.58% of the company’s stock.

GameStop Stock Performance

Shares of GME stock opened at $21.20 on Friday. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 25.86 and a beta of -1.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 10.79 and a current ratio of 10.39. GameStop Corp. has a one year low of $19.93 and a one year high of $35.81. The company’s 50-day moving average is $22.37 and its 200 day moving average is $23.81.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. GameStop had a net margin of 11.08% and a return on equity of 9.75%. The firm had revenue of $821.00 million for the quarter, compared to the consensus estimate of $987.29 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was down 4.6% on a year-over-year basis. Sell-side analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a research report on Thursday, December 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.50.

GameStop 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.