Exchange Traded Concepts LLC Buys Shares of 20,830 GameStop Corp. (NYSE:GME)

Exchange Traded Concepts LLC bought a new stake in GameStop Corp. (NYSE:GME - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,830 shares of the company's stock, valued at approximately $465,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 period. Bessemer Group Inc. raised its position in 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 purchasing an additional 691 shares during the period. Nomura Asset Management Co. Ltd. raised its position in 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 purchasing an additional 520 shares during the period. UMB Bank n.a. raised its position in 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 purchasing an additional 1,831 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in GameStop in the fourth quarter valued at $99,000. Hedge funds and other institutional investors own 29.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush restated an "underperform" rating and issued a $13.50 target price on shares of GameStop in a research report on Wednesday, June 11th. Wall Street Zen upgraded GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

Insider Buying and Selling at GameStop

In other news, CEO Ryan Cohen acquired 500,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the transaction, the chief executive officer now owns 37,347,842 shares in the company, valued at approximately $804,845,995.10. This trade represents a 1.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alain Attal bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $25.75 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 515,000 shares of company stock valued at $11,140,200 in the last quarter. Corporate insiders own 12.28% of the company's stock.

GameStop Price Performance

GME stock opened at $23.45 on Friday. 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 company has a market capitalization of $10.49 billion, a PE ratio of 50.98 and a beta of -0.69. GameStop Corp. has a 12-month low of $18.73 and a 12-month high of $35.81. The business's fifty day moving average price is $27.78 and its 200 day moving average price is $27.15.

GameStop (NYSE:GME - Get Free Report) last posted 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 firm had revenue of $732.40 million for the quarter, compared to the consensus estimate of $754.23 million. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The company's quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. On average, sell-side analysts anticipate that GameStop Corp. will post 0.08 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.