SG Americas Securities LLC Trims Stock Position in GameStop Corp. $GME

SG Americas Securities LLC cut its holdings in GameStop Corp. (NYSE:GME) by 57.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,794 shares of the company’s stock after selling 24,069 shares during the quarter. SG Americas Securities LLC’s holdings in GameStop were worth $434,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Alyeska Investment Group L.P. grew its holdings in GameStop by 895.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,641,427 shares of the company’s stock valued at $58,957,000 after buying an additional 2,376,051 shares during the last quarter. Nuveen LLC purchased a new stake in shares of GameStop in the first quarter valued at $33,741,000. Jump Financial LLC acquired a new stake in shares of GameStop during the first quarter valued at $5,725,000. Marathon Trading Investment Management LLC boosted its stake in shares of GameStop by 211.1% during the first quarter. Marathon Trading Investment Management LLC now owns 349,280 shares of the company’s stock valued at $7,796,000 after acquiring an additional 236,996 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in GameStop during the 1st quarter worth about $2,967,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of GameStop in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $13.50.

GameStop Trading Up 3.0%

Shares of GameStop stock opened at $21.68 on Friday. GameStop Corp. has a fifty-two week low of $19.93 and a fifty-two week high of $35.81. The business’s fifty day moving average is $23.23 and its two-hundred day moving average is $24.33. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The firm has a market cap of $9.71 billion, a PE ratio of 29.70 and a beta of -1.00.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 9th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The firm had revenue of $972.20 million during the quarter, compared to analyst estimates of $823.25 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. Analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,449 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total transaction of $122,703.42. Following the completion of the transaction, the general counsel owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 6,509 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 112,620 shares in the company, valued at approximately $3,106,059.60. This represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 11,788 shares of company stock valued at $321,046. Corporate insiders own 8.58% 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.