D. E. Shaw & Co. Inc. Buys 1,417,156 Shares of GameStop Corp. (NYSE:GME)

D. E. Shaw & Co. Inc. lifted its position in GameStop Corp. (NYSE:GME - Free Report) by 606.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,650,750 shares of the company's stock after purchasing an additional 1,417,156 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.37% of GameStop worth $51,735,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GME. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after acquiring an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in GameStop in the fourth quarter valued at about $37,000. R Squared Ltd acquired a new position in GameStop in the fourth quarter valued at about $51,000. Bessemer Group Inc. raised its position in shares of GameStop by 67.2% during the fourth 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 period. Finally, UMB Bank n.a. raised its position in shares of GameStop by 59.9% during the fourth 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 period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GME. StockNews.com raised 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 GameStop in a research note on Wednesday, March 26th.

GameStop Stock Down 2.2%

Shares of NYSE GME traded down $0.64 during midday trading on Thursday, hitting $28.09. 5,633,406 shares of the company's stock were exchanged, compared to its average volume of 18,442,838. GameStop Corp. has a 12 month low of $17.70 and a 12 month high of $48.00. The company's 50 day moving average price is $25.28 and its 200 day moving average price is $26.77. The firm has a market capitalization of $12.56 billion, a PE ratio of 155.94 and a beta of -0.76.

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

Insider Transactions at GameStop

In other GameStop news, Director Alain Attal bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the transaction, the director now directly owns 572,464 shares in the company, valued at approximately $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Cohen acquired 500,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the purchase, the chief executive officer now owns 37,347,842 shares of the company's stock, valued at approximately $804,845,995.10. The trade was a 1.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 515,000 shares of company stock valued at $11,140,200. Corporate insiders own 12.28% of the company's stock.

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.