Alyeska Investment Group L.P. Purchases 2,376,051 Shares of GameStop Corp. $GME

Key Points

• Alyeska Investment Group L.P. significantly increased its stake in GameStop Corp. by 895.4%, purchasing an additional 2,376,051 shares, bringing its total holdings to 2,641,427 shares valued at approximately $58.96 million.
• Other institutional investors such as Nuveen LLC and D. E. Shaw & Co. also made significant changes to their positions in GameStop, indicating a busy trading period for the stock.
• GameStop's stock performance remains volatile, with a current market cap of $10.25 billion and a 52-week range between $19.31 and $35.81 as it reports an EPS of $0.17 that beats analyst expectations of $0.04.

Alyeska Investment Group L.P. increased its stake in GameStop Corp. (NYSE:GME - Free Report) by 895.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,641,427 shares of the company's stock after buying an additional 2,376,051 shares during the period. Alyeska Investment Group L.P. owned 0.59% of GameStop worth $58,957,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GME. Nuveen LLC bought a new position in GameStop in the first quarter worth about $33,741,000. D. E. Shaw & Co. Inc. raised its stake 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 worth $51,735,000 after buying an additional 1,417,156 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GameStop by 42.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,036,589 shares of the company's stock worth $32,487,000 after buying an additional 307,903 shares in the last quarter. Jump Financial LLC bought a new position in GameStop in the first quarter worth about $5,725,000. Finally, Marathon Trading Investment Management LLC raised its stake in GameStop by 211.1% in the first quarter. Marathon Trading Investment Management LLC now owns 349,280 shares of the company's stock worth $7,796,000 after buying an additional 236,996 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Insider Activity at GameStop

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the sale, the general counsel 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 filing with the SEC, which is available through the SEC website. Insiders have sold a total of 13,905 shares of company stock worth $334,509 in the last 90 days. Corporate insiders own 8.58% of the company's stock.

GameStop Price Performance

Shares of GME opened at $22.92 on Thursday. The stock has a market cap of $10.25 billion, a PE ratio of 49.82 and a beta of -0.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39. GameStop Corp. has a fifty-two week low of $19.31 and a fifty-two week high of $35.81. The firm's 50-day simple moving average is $23.07 and its two-hundred day simple moving average is $25.03.

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

Analyst Ratings Changes

Separately, Wedbush raised shares of GameStop to a "strong sell" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell" and a consensus target price of $13.50.

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.

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