Exchange Traded Concepts LLC Takes $465,000 Position in GameStop Corp. (NYSE:GME)

Exchange Traded Concepts LLC acquired a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,830 shares of the company's stock, valued at approximately $465,000.

Other hedge funds have also recently bought and sold shares of the company. Scratch Capital LLC lifted its position in shares of GameStop by 3.3% during the first quarter. Scratch Capital LLC now owns 23,570 shares of the company's stock valued at $526,000 after purchasing an additional 750 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of GameStop by 10.3% during the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock worth $139,000 after buying an additional 579 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of GameStop during the 1st quarter worth approximately $934,000. GAMMA Investing LLC boosted its stake in shares of GameStop by 69.9% in the 1st quarter. GAMMA Investing LLC now owns 6,056 shares of the company's stock worth $135,000 after buying an additional 2,492 shares during the last quarter. Finally, UMB Bank n.a. grew 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 in the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Stock Performance

GME traded up $0.19 during midday trading on Wednesday, reaching $23.48. The company had a trading volume of 9,809,350 shares, compared to its average volume of 11,592,803. GameStop Corp. has a 12-month low of $18.73 and a 12-month high of $35.81. The business has a 50-day moving average price of $27.63 and a two-hundred day moving average price of $27.07. The stock has a market cap of $10.50 billion, a PE ratio of 51.04 and a beta of -0.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping 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 company had revenue of $732.40 million for the quarter, compared to analysts' expectations of $754.23 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. GameStop's revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts expect that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other GameStop news, Director Alain Attal bought 10,000 shares of the stock in a transaction on Thursday, April 10th. The shares were acquired at an average price of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now directly owns 572,464 shares of the company's stock, valued at $14,740,948. The trade was a 1.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 1,608 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the transaction, the insider now directly owns 29,777 shares of the company's stock, valued at $670,875.81. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 515,000 shares of company stock valued at $11,140,200 in the last 90 days. Insiders own 12.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wedbush reiterated an "underperform" rating and set a $13.50 price target on shares of GameStop in a report on Wednesday, June 11th. Wall Street Zen upgraded GameStop from a "sell" rating to a "hold" rating in a research note 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.