GameStop Corp. (NYSE:GME) Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its stake in GameStop Corp. by 654.6%, acquiring an additional 13,196 shares, bringing its total holdings to 15,212 shares valued at approximately $340,000.
• GameStop reported a net margin of 5.67% and earnings per share of $0.17 for the last quarter, surpassing analysts' expectations by $0.13, although revenue decreased by 16.9% year-over-year.
• Insider trading activity included General Counsel Mark Haymond Robinson selling 11,055 shares at an average price of $24.18, representing an 8.65% reduction in his holdings.

Bayforest Capital Ltd increased its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 654.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,212 shares of the company's stock after purchasing an additional 13,196 shares during the quarter. Bayforest Capital Ltd's holdings in GameStop were worth $340,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GME. Nomura Asset Management Co. Ltd. lifted its stake in shares of GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock worth $67,000 after purchasing an additional 520 shares during the period. Fifth Third Bancorp increased its stake in shares of GameStop by 10.3% during the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock valued at $139,000 after acquiring an additional 579 shares during the last quarter. Prudential Financial Inc. increased its position in GameStop by 2.3% during the fourth quarter. Prudential Financial Inc. now owns 28,134 shares of the company's stock worth $882,000 after purchasing an additional 640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of 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 buying an additional 684 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Insider Activity at GameStop

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction dated 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 approximately $2,823,764.58. The trade was a 8.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 13,075 shares of company stock valued at $315,685. 12.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded GameStop to a "strong sell" rating in a research note on Tuesday, July 1st.

GameStop Stock Up 0.5%

GME traded up $0.11 during trading hours on Tuesday, reaching $22.74. 3,331,963 shares of the stock traded hands, compared to its average volume of 11,456,240. The firm's fifty day simple moving average is $24.95 and its two-hundred day simple moving average is $25.63. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 49.37 and a beta of -0.72. GameStop Corp. has a fifty-two week low of $19.31 and a fifty-two week high of $35.81. 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 (NYSE:GME - Get Free Report) last issued its quarterly earnings data 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 return on equity of 5.25% and a net margin of 5.67%. The firm had revenue of $732.40 million during the quarter, compared to analyst estimates of $754.23 million. During the same quarter last year, the firm earned ($0.12) EPS. GameStop's quarterly revenue was down 16.9% on a year-over-year basis. As a group, 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.