Alyeska Investment Group L.P. Invests $8.32 Million in GameStop Corp. (NYSE:GME)

Alyeska Investment Group L.P. bought a new stake in GameStop Corp. (NYSE:GME - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 265,376 shares of the company's stock, valued at approximately $8,317,000. Alyeska Investment Group L.P. owned approximately 0.06% of GameStop at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GME. Virtu Financial LLC bought a new stake in shares of GameStop in the 3rd quarter worth $285,000. JPMorgan Chase & Co. grew its holdings in shares of GameStop by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company's stock valued at $17,750,000 after acquiring an additional 244,339 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GameStop by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company's stock valued at $112,000 after acquiring an additional 1,414 shares during the last quarter. Everence Capital Management Inc. bought a new stake in GameStop during the fourth quarter worth $376,000. Finally, Christensen King & Associates Investment Services Inc. boosted its position in GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock worth $853,000 after purchasing an additional 518 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Alain Attal bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average price of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now owns 572,464 shares of the company's stock, valued at approximately $14,740,948. The trade was a 1.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 1,608 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 $36,228.24. Following the completion of the sale, the insider now owns 29,777 shares in the company, valued at $670,875.81. This represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 515,000 shares of company stock worth $11,140,200 over the last 90 days. Corporate insiders own 12.28% of the company's stock.

Wall Street Analyst Weigh In

GME has been the topic of a number of recent analyst 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 target price on shares of GameStop in a research note on Wednesday, March 26th.

GameStop Stock Up 2.8 %

GME traded up $0.75 during trading hours on Friday, hitting $27.53. The stock had a trading volume of 7,749,796 shares, compared to its average volume of 20,021,174. GameStop Corp. has a 1 year low of $17.70 and a 1 year high of $64.83. The company's fifty day simple moving average is $25.05 and its 200 day simple moving average is $26.65. The stock has a market cap of $12.31 billion, a PE ratio of 152.95 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last posted its 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. As a group, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

About GameStop

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.