65,000 Shares in GameStop Corp. (NYSE:GME) Acquired by Soviero Asset Management LP

Soviero Asset Management LP acquired a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 65,000 shares of the company's stock, valued at approximately $2,037,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GME. Vanguard Group Inc. lifted its stake in shares of GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock worth $1,226,775,000 after purchasing an additional 2,036,032 shares in the last quarter. Slate Path Capital LP acquired a new position in shares of GameStop in the fourth quarter worth about $60,361,000. D. E. Shaw & Co. Inc. boosted its holdings in GameStop by 606.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company's stock valued at $51,735,000 after purchasing an additional 1,417,156 shares during the last quarter. Northern Trust Corp boosted its holdings in GameStop by 26.2% in the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock valued at $99,389,000 after purchasing an additional 659,345 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in GameStop by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock valued at $208,769,000 after purchasing an additional 380,554 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com raised GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush set a $11.50 price target on GameStop in a report on Wednesday, March 26th.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the company's 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the company'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 transaction, the general counsel now directly owns 37,663 shares of the company's stock, valued at $848,547.39. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 515,000 shares of company stock worth $11,140,200 over the last quarter. 12.28% of the stock is owned by corporate insiders.

GameStop Price Performance

GME traded down $0.43 on Wednesday, reaching $28.08. The company's stock had a trading volume of 8,716,310 shares, compared to its average volume of 16,993,820. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 156.00 and a beta of -0.76. GameStop Corp. has a 1 year low of $17.70 and a 1 year high of $48.00. The business's 50 day moving average is $25.87 and its 200 day moving average is $26.97.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data 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. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. GameStop's revenue for the quarter was down 28.5% compared to the same quarter last year. As a group, research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

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.