Algert Global LLC Purchases 31,455 Shares of GameStop Corp. (NYSE:GME)

Algert Global LLC lifted its stake in GameStop Corp. (NYSE:GME - Free Report) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 181,981 shares of the company's stock after purchasing an additional 31,455 shares during the period. Algert Global LLC's holdings in GameStop were worth $5,703,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in GameStop by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock worth $1,226,775,000 after buying an additional 2,036,032 shares during the period. Geode Capital Management LLC grew its stake 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. Charles Schwab Investment Management Inc. raised its holdings in GameStop by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company's stock worth $113,146,000 after purchasing an additional 107,354 shares in the last quarter. Northern Trust Corp lifted its position in GameStop by 26.2% during the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock valued at $99,389,000 after buying an additional 659,345 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of GameStop by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company's stock valued at $80,401,000 after buying an additional 60,673 shares in the last quarter. Institutional investors own 29.21% of the company's stock.

Insider Activity at GameStop

In related news, Director Alain Attal acquired 10,000 shares of the business's stock in a transaction on Thursday, April 10th. The stock was acquired at an average cost of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now directly owns 572,464 shares in the company, valued at $14,740,948. This represents a 1.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Cohen acquired 500,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,347,842 shares in the company, valued at approximately $804,845,995.10. This represents a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 515,000 shares of company stock worth $11,140,200. 12.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GME has been the topic of several recent research reports. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a research report on Wednesday, March 26th.

GameStop Price Performance

Shares of GameStop stock traded up $0.75 during trading on Friday, hitting $27.53. 7,749,796 shares of the company's stock traded hands, compared to its average volume of 20,088,261. GameStop Corp. has a 1 year low of $16.88 and a 1 year high of $64.83. The business has a 50-day simple moving average of $24.98 and a 200-day simple moving average of $26.56. The stock has a market capitalization of $12.31 billion, a P/E ratio of 152.95 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company's revenue was down 28.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. On average, equities analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

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.