50,790 GameStop Corp. $GME Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its GameStop position by 61.4% in the second quarter, selling 50,790 shares and retaining 31,869 shares valued at approximately $704,000.
• Institutional sentiment was mixed, with several funds—including Dimensional Fund Advisors, Renaissance Technologies and First Trust Advisors—substantially increasing their holdings. Hedge funds and other institutions collectively owned 29.21% of GameStop.
• Analysts maintained a consensus “Hold” rating. GameStop met quarterly earnings expectations at $0.27 per share and exceeded revenue estimates, but revenue declined 18.7% year over year; insiders were net buyers over the past 90 days.

Corient Private Wealth LP decreased its position in shares of GameStop Corp. (NYSE:GME - Free Report) by 61.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,869 shares of the company's stock after selling 50,790 shares during the period. Corient Private Wealth LP's holdings in GameStop were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of GameStop by 189.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company's stock valued at $90,046,000 after buying an additional 2,557,079 shares during the period. Renaissance Technologies LLC raised its holdings in shares of GameStop by 376.2% in the first quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company's stock worth $61,063,000 after buying an additional 2,093,755 shares during the period. Pacer Advisors Inc. raised its holdings in shares of GameStop by 19.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,112,535 shares of the company's stock worth $22,340,000 after buying an additional 180,356 shares during the period. First Trust Advisors LP lifted its stake in shares of GameStop by 412.7% during the 1st quarter. First Trust Advisors LP now owns 208,650 shares of the company's stock worth $4,807,000 after acquiring an additional 167,956 shares during the last quarter. Finally, Delta Global Management LP bought a new stake in shares of GameStop during the 1st quarter worth approximately $3,448,000. Hedge funds and other institutional investors own 29.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GameStop in a research report on Wednesday, July 29th. Wall Street Zen downgraded GameStop from a "buy" rating to a "hold" rating in a research report on Monday, September 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, GameStop has a consensus rating of "Hold".

GameStop Price Performance

Shares of GME stock opened at $24.02 on Tuesday. GameStop Corp. has a twelve month low of $17.79 and a twelve month high of $28.10. The company has a current ratio of 8.72, a quick ratio of 8.07 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $20.26 and a two-hundred day simple moving average of $21.89. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 15.80 and a beta of 1.72.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The firm had revenue of $790.20 million during the quarter, compared to the consensus estimate of $756.85 million. During the same period in the previous year, the company posted $0.31 earnings per share. The firm's quarterly revenue was down 18.7% on a year-over-year basis.

Insiders Place Their Bets

In other GameStop news, Director Alain Attal acquired 17,500 shares of the business's stock in a transaction that occurred on Monday, September 21st. The shares were bought at an average cost of $22.97 per share, with a total value of $401,975.00. Following the completion of the acquisition, the director directly owned 618,964 shares in the company, valued at $14,217,603.08. This represents a 2.91% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Robinson sold 3,957 shares of the business's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.62, for a total transaction of $89,507.34. Following the completion of the transaction, the general counsel directly owned 104,190 shares of the company's stock, valued at $2,356,777.80. This trade represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 2,228,180 shares of company stock worth $48,312,574 and have sold 18,125 shares worth $406,587. 9.50% of the stock is owned by company insiders.

GameStop Company Profile

GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.

Founded in 1984 as Babbage's, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.

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