Baader Bank Aktiengesellschaft Takes Position in GameStop Corp. (NYSE:GME)

Key Points

• Baader Bank Aktiengesellschaft acquired a new position in GameStop Corp. by purchasing 25,018 shares valued at approximately $558,000 in the first quarter.
• Other institutional investors, including Slate Path Capital LP and D. E. Shaw & Co. Inc., also made significant changes to their GameStop holdings, indicating growing institutional interest.
• GameStop reported earnings of $0.17 per share, beating estimates, but its revenue decreased by 16.9% year-over-year, highlighting ongoing challenges despite positive earnings.

Baader Bank Aktiengesellschaft bought a new position in GameStop Corp. (NYSE:GME - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,018 shares of the company's stock, valued at approximately $558,000.

Several other large investors also recently modified their holdings of the business. Bayforest Capital Ltd grew its stake in shares of GameStop by 654.6% in the first quarter. Bayforest Capital Ltd now owns 15,212 shares of the company's stock worth $340,000 after purchasing an additional 13,196 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of GameStop in the first quarter worth about $465,000. SLT Holdings LLC grew its stake in shares of GameStop by 31.4% in the first quarter. SLT Holdings LLC now owns 36,488 shares of the company's stock worth $814,000 after purchasing an additional 8,725 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of GameStop by 31.2% in the first quarter. Foundations Investment Advisors LLC now owns 36,733 shares of the company's stock worth $820,000 after purchasing an additional 8,725 shares during the last quarter. Finally, Triumph Capital Management grew its stake in shares of GameStop by 47.9% in the first quarter. Triumph Capital Management now owns 11,933 shares of the company's stock worth $266,000 after purchasing an additional 3,866 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop 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 completion of the transaction, the general counsel directly owned 116,781 shares in the company, valued at approximately $2,823,764.58. This trade represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 13,075 shares of company stock worth $315,685 in the last ninety days. 12.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wedbush upgraded shares of GameStop to a "strong sell" rating in a report on Tuesday, July 1st.

GameStop Stock Down 1.6%

GME traded down $0.37 on Friday, hitting $22.08. The company had a trading volume of 7,832,125 shares, compared to its average volume of 9,015,724. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. GameStop Corp. has a 52-week low of $18.73 and a 52-week high of $35.81. The stock has a fifty day simple moving average of $25.17 and a 200-day simple moving average of $25.69. The firm has a market capitalization of $9.88 billion, a P/E ratio of 48.00 and a beta of -0.72.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.04 by $0.13. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The business had revenue of $732.40 million during the quarter, compared to analyst estimates of $754.23 million. During the same period last year, the business posted ($0.12) earnings per share. GameStop's quarterly revenue was down 16.9% compared to the same quarter last year. As a group, equities analysts expect that GameStop Corp. will post 0.08 EPS 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.