XTX Topco Ltd Acquires Shares of 20,821 GameStop Corp. (NYSE:GME)

Key Points

• XTX Topco Ltd acquired 20,821 shares of GameStop Corp. (NYSE:GME) in the first quarter, valued at approximately $465,000.
• Insider sales include General Counsel Mark Haymond Robinson selling 11,055 shares for about $267,309, marking an 8.65% decrease in his position.
• GameStop's stock is trading down 0.8% at $22.64, with a 52-week low of $19.31 and a high of $35.81.

XTX Topco Ltd acquired a new stake in GameStop Corp. (NYSE:GME - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,821 shares of the company's stock, valued at approximately $465,000.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of GameStop by 8.9% during the fourth quarter. American Century Companies Inc. now owns 29,003 shares of the company's stock valued at $909,000 after acquiring an additional 2,369 shares during the last quarter. Norges Bank purchased a new position in GameStop in the fourth quarter valued at approximately $2,012,000. Wells Fargo & Company MN boosted its position in GameStop by 42.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,722 shares of the company's stock worth $179,000 after purchasing an additional 1,698 shares during the period. Invesco Ltd. grew its stake in shares of GameStop by 6.1% in the fourth quarter. Invesco Ltd. now owns 585,757 shares of the company's stock valued at $18,358,000 after buying an additional 33,596 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of GameStop by 2.8% during the fourth quarter. Legal & General Group Plc now owns 736,443 shares of the company's stock valued at $23,080,000 after purchasing an additional 19,729 shares during the period. Hedge funds and other institutional investors own 29.21% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush upgraded GameStop to a "strong sell" rating in a research note on Tuesday, July 1st.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total value of $267,309.90. Following the completion of the sale, the general counsel directly owned 116,781 shares in the company, valued at $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 13,075 shares of company stock worth $315,685 in the last quarter. 12.28% of the stock is owned by company insiders.

GameStop Stock Performance

GME traded down $0.40 on Friday, hitting $22.25. 4,809,217 shares of the company's stock were exchanged, compared to its average volume of 8,307,274. GameStop Corp. has a twelve month low of $19.31 and a twelve month high of $35.81. The firm has a market cap of $9.95 billion, a PE ratio of 48.37 and a beta of -0.72. The company has a current ratio of 8.39, a quick ratio of 7.89 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $24.25 and a two-hundred day moving average of $25.50.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.04 by $0.13. The company had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. GameStop had a net margin of 5.67% and a return on equity of 5.25%. GameStop's revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) earnings per share. On average, research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal 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.