Bayesian Capital Management LP Purchases New Position in GameStop Corp. (NYSE:GME)

Bayesian Capital Management LP acquired a new position in GameStop Corp. (NYSE:GME - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 100,025 shares of the company's stock, valued at approximately $3,135,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in GameStop by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock valued at $1,226,775,000 after acquiring an additional 2,036,032 shares during the last quarter. Slate Path Capital LP bought a new stake in GameStop in the fourth quarter valued at about $60,361,000. Northern Trust Corp grew its position in shares of GameStop by 26.2% in the 4th quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock worth $99,389,000 after acquiring an additional 659,345 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GameStop by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock worth $208,769,000 after purchasing an additional 380,554 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of GameStop in the 4th quarter worth about $8,317,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Stock Performance

Shares of GME traded up $0.81 during mid-day trading on Friday, reaching $27.59. 5,992,892 shares of the company's stock traded hands, compared to its average volume of 8,952,412. The business's 50-day moving average price is $24.98 and its 200-day moving average price is $26.56. The stock has a market capitalization of $12.34 billion, a P/E ratio of 153.29 and a beta of -0.76. GameStop Corp. has a 12 month low of $16.88 and a 12 month high of $64.83.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 1.45% and a return on equity of 2.11%. GameStop's revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, insider Daniel William Moore sold 1,608 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now owns 29,777 shares in the company, valued at $670,875.81. This represents a 5.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the 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 $105,598.11. Following the completion of the sale, the general counsel now directly owns 37,663 shares of the company's stock, valued at $848,547.39. This trade represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GME shares. Wedbush set a $11.50 price objective on shares of GameStop in a research report on Wednesday, March 26th. StockNews.com raised GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

GameStop Company 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.