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

A number of other hedge funds have also recently made changes to their positions in GME. Commonwealth Equity Services LLC grew its holdings in shares of GameStop by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,686 shares of the company's stock worth $429,000 after purchasing an additional 848 shares during the last quarter. American Century Companies Inc. grew its holdings in GameStop by 8.9% during the 4th quarter. American Century Companies Inc. now owns 29,003 shares of the company's stock worth $909,000 after acquiring an additional 2,369 shares in the last quarter. Sei Investments Co. grew its holdings in GameStop by 18.9% during the 4th quarter. Sei Investments Co. now owns 23,454 shares of the company's stock worth $735,000 after acquiring an additional 3,720 shares in the last quarter. Prudential Financial Inc. grew its holdings in GameStop by 2.3% during the 4th quarter. Prudential Financial Inc. now owns 28,134 shares of the company's stock worth $882,000 after acquiring an additional 640 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after acquiring an additional 684 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

GameStop Stock Up 1.3%

Shares of NYSE:GME traded up $0.29 during trading on Monday, reaching $22.39. The stock had a trading volume of 3,214,444 shares, compared to its average volume of 11,498,781. GameStop Corp. has a one year low of $18.73 and a one year high of $35.81. The company has a market capitalization of $10.01 billion, a P/E ratio of 48.66 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 firm's 50-day simple moving average is $25.17 and its 200 day simple moving average is $25.66.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share 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 business had revenue of $732.40 million for the quarter, compared to analysts' expectations of $754.23 million. During the same period last year, the business earned ($0.12) EPS. The company's revenue was down 16.9% compared to the same quarter last year. As a group, research analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In related 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 value of $267,309.90. Following the completion of the transaction, the general counsel directly owned 116,781 shares of the company's stock, valued at $2,823,764.58. This trade represents a 8.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 13,075 shares of company stock valued at $315,685. 12.28% of the stock is currently owned by company insiders.

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.