Balyasny Asset Management L.P. Takes Position in GameStop Corp. (NYSE:GME)

Balyasny Asset Management L.P. purchased a new stake in GameStop Corp. (NYSE:GME - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 110,803 shares of the company's stock, valued at approximately $3,473,000.

Other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after purchasing an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in GameStop during the 4th quarter worth $37,000. R Squared Ltd bought a new stake in shares of GameStop in the 4th quarter worth about $51,000. Bessemer Group Inc. increased its position in shares of GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after purchasing an additional 691 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after purchasing an additional 682 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GME. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th.

GameStop Stock Performance

Shares of NYSE GME traded down $0.20 during midday trading on Friday, hitting $28.43. The company's stock had a trading volume of 6,383,314 shares, compared to its average volume of 17,410,385. GameStop Corp. has a 1-year low of $17.70 and a 1-year high of $48.00. The firm's fifty day moving average price is $25.52 and its 200-day moving average price is $26.88. The firm has a market cap of $12.72 billion, a P/E ratio of 157.98 and a beta of -0.76.

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

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,687 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the sale, the general counsel now owns 37,663 shares in the company, valued at approximately $848,547.39. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alain Attal purchased 10,000 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of $25.75 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last three months, insiders acquired 515,000 shares of company stock valued at $11,140,200. Company insiders own 12.28% of the company's stock.

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.