FORA Capital LLC Takes Position in GameStop Corp. $GME

Key Points

• FORA Capital LLC initiated a new stake in GameStop, acquiring 71,430 shares in Q3 valued at about $1.95 million, and institutional investors now own roughly 29.21% of the company.
• Notable insider activity: General Counsel Mark Haymond Robinson sold 12,200 shares at $21 (cutting his holding by 10.4%), while Director Alain Attal bought 12,000 shares at $20.90 and now owns 596,464 shares; insiders have net purchased 517,000 shares in the past 90 days and control 8.58% of the stock.
• Analyst view and valuation: Weiss Ratings raised GME to a "hold," but the MarketBeat consensus remains "Reduce" with an average target of $13.50, while the stock trades around $23.52 with a market cap of $10.54 billion and a P/E of 28.68.

FORA Capital LLC acquired a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund acquired 71,430 shares of the company's stock, valued at approximately $1,949,000.

Other institutional investors have also added to or reduced their stakes in the company. City Holding Co. purchased a new position in GameStop during the 3rd quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company's stock worth $31,000 after buying an additional 886 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of GameStop by 39.2% in the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company's stock worth $46,000 after buying an additional 471 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of GameStop by 83.2% in the third quarter. Jones Financial Companies Lllp now owns 3,036 shares of the company's stock valued at $80,000 after acquiring an additional 1,379 shares during the period. Finally, CI Investments Inc. boosted its position in shares of GameStop by 32.4% in the third quarter. CI Investments Inc. now owns 3,448 shares of the company's stock valued at $94,000 after acquiring an additional 844 shares during the period. Hedge funds and other institutional investors own 29.21% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 12,200 shares of the firm's stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $21.00, for a total value of $256,200.00. Following the sale, the general counsel directly owned 105,155 shares of the company's stock, valued at $2,208,255. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alain Attal bought 12,000 shares of the company's stock in a transaction on Tuesday, January 20th. The shares were bought at an average price of $20.90 per share, with a total value of $250,800.00. Following the completion of the transaction, the director owned 596,464 shares of the company's stock, valued at $12,466,097.60. The trade was a 2.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 517,000 shares of company stock valued at $10,925,150 and sold 23,152 shares valued at $480,059. 8.58% of the stock is currently owned by company insiders.

GameStop Price Performance

GameStop stock opened at $23.52 on Friday. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 28.68 and a beta of 2.12. The company has a quick ratio of 9.77, a current ratio of 10.39 and a debt-to-equity ratio of 0.78. The business has a 50-day simple moving average of $23.29 and a 200 day simple moving average of $23.10. GameStop Corp. has a 52 week low of $19.93 and a 52 week high of $35.81.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. GameStop had a return on equity of 9.75% and a net margin of 11.08%.The firm had revenue of $821.00 million for the quarter, compared to analysts' expectations of $987.29 million. During the same quarter last year, the firm posted $0.06 EPS. The company's revenue was down 4.6% compared to the same quarter last year. On average, research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of GameStop from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GameStop has a consensus rating of "Reduce" and an average target price of $13.50.

GameStop Company Profile

GameStop Corp. NYSE: GME is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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