Capital Fund Management S.A. Sells 256,617 Shares of GameStop Corp. $GME

Capital Fund Management S.A. reduced its holdings in shares of GameStop Corp. (NYSE:GME) by 35.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,268 shares of the company’s stock after selling 256,617 shares during the quarter. Capital Fund Management S.A.’s holdings in GameStop were worth $12,502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Marshall Wace LLP grew its stake in GameStop by 347.7% in the 2nd quarter. Marshall Wace LLP now owns 6,657,678 shares of the company’s stock valued at $162,381,000 after buying an additional 5,170,741 shares in the last quarter. Invesco Ltd. lifted its position in shares of GameStop by 486.6% during the second quarter. Invesco Ltd. now owns 3,858,024 shares of the company’s stock worth $94,097,000 after acquiring an additional 3,200,321 shares in the last quarter. Norges Bank purchased a new stake in shares of GameStop during the second quarter worth $76,701,000. Clear Street LLC bought a new position in shares of GameStop in the second quarter worth $57,433,000. Finally, Van ECK Associates Corp boosted its holdings in shares of GameStop by 58.3% in the third quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock worth $84,528,000 after acquiring an additional 1,141,215 shares during the period. 29.21% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Lawrence Cheng purchased 5,000 shares of GameStop stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $22.87 per share, for a total transaction of $114,350.00. Following the transaction, the director directly owned 88,000 shares of the company’s stock, valued at approximately $2,012,560. This trade represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel William Moore sold 5,477 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $20.44, for a total transaction of $111,949.88. Following the completion of the transaction, the insider directly owned 108,224 shares in the company, valued at approximately $2,212,098.56. The trade was a 4.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders bought 517,000 shares of company stock worth $10,925,150 and sold 23,152 shares worth $480,059. Company insiders own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. One research 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 has a consensus rating of “Reduce” and an average price target of $13.50.

GameStop Price Performance

GME stock opened at $24.44 on Friday. The firm has a 50 day moving average of $23.24 and a 200-day moving average of $23.09. The firm has a market capitalization of $10.95 billion, a P/E ratio of 29.81 and a beta of 2.12. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $35.81. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78.

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

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.