Caas Capital Management LP Buys Shares of 34,674 GameStop Corp. (NYSE:GME)

Caas Capital Management LP purchased a new stake in GameStop Corp. (NYSE:GME - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,674 shares of the company's stock, valued at approximately $774,000.

Several other hedge funds also recently added to or reduced their stakes in GME. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after purchasing an additional 684 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after acquiring an additional 691 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after acquiring an additional 520 shares during the period. UMB Bank n.a. boosted its holdings in shares of GameStop by 100.6% in the first quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock valued at $81,000 after acquiring an additional 1,831 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of GameStop by 69.9% in the first quarter. GAMMA Investing LLC now owns 6,056 shares of the company's stock valued at $135,000 after acquiring an additional 2,492 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 1,269 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.95, for a total transaction of $30,392.55. Following the completion of the sale, the general counsel directly owned 127,836 shares of the company's stock, valued at $3,061,672.20. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.28% of the stock is currently owned by corporate insiders.

GameStop Stock Performance

Shares of NYSE GME traded up $0.36 during mid-day trading on Monday, hitting $23.69. 7,746,671 shares of the company were exchanged, compared to its average volume of 11,184,122. The company has a quick ratio of 7.89, a current ratio of 8.39 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $26.66 and a 200-day simple moving average of $26.50. GameStop Corp. has a 1-year low of $18.73 and a 1-year high of $35.81. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 51.50 and a beta of -0.81.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $754.23 million. During the same period last year, the company earned ($0.12) earnings per share. The company's revenue for the quarter was down 16.9% on a year-over-year basis. On average, sell-side analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush raised GameStop to a "strong sell" rating in a report on Tuesday, July 1st. Wall Street Zen raised GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

GameStop 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.