Algert Global LLC Buys Shares of 40,626 GameStop Corp. (NYSE:GME)

Algert Global LLC purchased a new position in GameStop Corp. (NYSE:GME) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 40,626 shares of the company’s stock, valued at approximately $1,003,000.

Other large investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of GameStop in the 2nd quarter worth $9,577,000. Renaissance Technologies LLC increased its holdings in shares of GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after acquiring an additional 342,178 shares in the last quarter. Van ECK Associates Corp raised its position in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after purchasing an additional 209,861 shares during the last quarter. Vanguard Group Inc. boosted its stake in GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares in the last quarter. Finally, Tidal Investments LLC grew its position in GameStop by 659.6% during the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after purchasing an additional 121,328 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

GameStop Price Performance

NYSE:GME opened at $21.35 on Friday. The company’s fifty day moving average price is $21.88 and its 200-day moving average price is $20.92. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The firm has a market capitalization of $7.50 billion, a P/E ratio of 266.88 and a beta of -0.19.

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

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the transaction, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the sale, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the transaction, the insider now owns 37,280 shares of the company’s stock, valued at $818,668.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

GME has been the subject of a number of research analyst reports. Wedbush decreased their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a research note on Wednesday, September 25th.

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.