Renaissance Technologies LLC Purchases 342,178 Shares of GameStop Corp. (NYSE:GME)

Renaissance Technologies LLC lifted its position in shares of GameStop Corp. (NYSE:GME) by 34.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,347,136 shares of the company’s stock after acquiring an additional 342,178 shares during the quarter. Renaissance Technologies LLC owned approximately 0.38% of GameStop worth $33,261,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC boosted its position in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares during the period. Centerpoint Advisors LLC purchased a new stake in shares of GameStop during the second quarter worth $47,000. GAMMA Investing LLC grew its position in shares of GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares during the period. Finally, CWM LLC lifted its holdings in GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after purchasing an additional 1,426 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Insider Transactions at GameStop

In other news, Director Lawrence Cheng bought 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GME. Wedbush cut their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com raised GameStop to a “sell” rating in a research note on Wednesday, September 11th.

GameStop Price Performance

Shares of GME opened at $19.61 on Thursday. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The company has a market capitalization of $6.89 billion, a P/E ratio of 245.13 and a beta of -0.17. The firm’s 50 day simple moving average is $22.81 and its 200 day simple moving average is $20.37.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm’s revenue was down 31.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. On average, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

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.