Graham Capital Management L.P. Lowers Position in GameStop Corp. (NYSE:GME)

Graham Capital Management L.P. lessened its holdings in GameStop Corp. (NYSE:GME) by 34.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,997 shares of the company’s stock after selling 9,097 shares during the period. Graham Capital Management L.P.’s holdings in GameStop were worth $533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after purchasing an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in GameStop during the fourth quarter valued at about $37,000. R Squared Ltd purchased a new stake in GameStop during the fourth quarter valued at about $51,000. Bessemer Group Inc. raised its position in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after buying an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wedbush set a $11.50 price objective on GameStop in a research note on Wednesday, March 26th. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th.

GameStop Trading Down 0.6%

GME stock opened at $28.57 on Friday. The stock has a market capitalization of $12.78 billion, a PE ratio of 158.73 and a beta of -0.76. GameStop Corp. has a 12-month low of $17.70 and a 12-month high of $48.00. The stock’s 50 day simple moving average is $25.41 and its 200 day simple moving average is $26.81.

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

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alain Attal purchased 10,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average price of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now directly owns 572,464 shares of the company’s stock, valued at $14,740,948. This trade represents a 1.78% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 515,000 shares of company stock valued at $11,140,200. Insiders own 12.28% of the company’s stock.

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.