132,946 Shares in GameStop Corp. $GME Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has purchased a new position in GameStop Corp., accumulating 132,946 shares valued at approximately $2.97 million in the first quarter.
• GameStop reported an EPS of $0.17 for the last quarter, surpassing analyst expectations, but its revenue decreased by 16.9% year-over-year.
• Insider trading activity includes the sale of 11,055 shares by General Counsel Mark Haymond at an average price of $24.18, reducing his holdings by 8.65%.

Cubist Systematic Strategies LLC bought a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 132,946 shares of the company's stock, valued at approximately $2,967,000.

A number of other large investors have also recently made changes to their positions in GME. UMB Bank n.a. raised its holdings in shares of GameStop by 100.6% during the first quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock worth $81,000 after purchasing an additional 1,831 shares during the last quarter. US Bancorp DE raised its stake in GameStop by 92.5% during the first quarter. US Bancorp DE now owns 3,726 shares of the company's stock worth $83,000 after purchasing an additional 1,790 shares during the period. Bogart Wealth LLC raised its stake in GameStop by 100.0% during the first quarter. Bogart Wealth LLC now owns 4,000 shares of the company's stock worth $89,000 after purchasing an additional 2,000 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of GameStop by 31.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company's stock worth $93,000 after purchasing an additional 1,000 shares during the period. Finally, CWM LLC grew its holdings in shares of GameStop by 47.6% during the 1st quarter. CWM LLC now owns 4,353 shares of the company's stock worth $97,000 after purchasing an additional 1,404 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction 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 directly owned 116,781 shares of the company's stock, valued at approximately $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,905 shares of company stock valued at $334,509 over the last three months. Insiders own 8.58% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded shares of GameStop to a "strong sell" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell" and an average price target of $13.50.

GameStop Trading Up 2.8%

Shares of GME stock traded up $0.64 on Monday, reaching $23.25. 10,092,194 shares of the stock were exchanged, compared to its average volume of 5,816,686. The stock has a market cap of $10.40 billion, a P/E ratio of 50.53 and a beta of -0.92. 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 firm has a 50 day moving average of $23.00 and a two-hundred day moving average of $24.93. GameStop Corp. has a 1-year low of $19.31 and a 1-year high of $35.81.

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