Bayforest Capital Ltd Buys 13,196 Shares of GameStop Corp. $GME

Key Points

• Bayforest Capital Ltd significantly increased its stake in GameStop by 654.6%, owning a total of 15,212 shares valued at approximately $340,000 following the purchase of 13,196 additional shares in the first quarter.
• Insider trading activity includes General Counsel Mark Haymond Robinson selling 11,055 shares for about $267,309, which reduced his position by 8.65%.
• Analysts have downgraded GameStop to a "strong sell," setting a consensus price target of $13.50, with current consensus rating noted as "Sell."

Bayforest Capital Ltd lifted its holdings in GameStop Corp. (NYSE:GME - Free Report) by 654.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,212 shares of the company's stock after purchasing an additional 13,196 shares during the quarter. Bayforest Capital Ltd's holdings in GameStop were worth $340,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its position in GameStop by 10.7% during the first quarter. New York State Teachers Retirement System now owns 311,864 shares of the company's stock valued at $6,961,000 after purchasing an additional 30,200 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of GameStop during the 1st quarter valued at about $465,000. Virtu Financial LLC purchased a new position in GameStop in the first quarter worth about $1,442,000. California State Teachers Retirement System grew its position in GameStop by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 394,588 shares of the company's stock worth $12,366,000 after acquiring an additional 13,576 shares in the last quarter. Finally, Soviero Asset Management LP bought a new stake in GameStop during the fourth quarter worth approximately $2,037,000. Institutional investors own 29.21% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush raised GameStop to a "strong sell" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GameStop presently has an average rating of "Sell" and a consensus price target of $13.50.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total transaction of $267,309.90. Following the transaction, the general counsel directly owned 116,781 shares in the company, valued at $2,823,764.58. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 13,905 shares of company stock worth $334,509. Company insiders own 8.58% of the company's stock.

GameStop Trading Up 0.4%

Shares of NYSE:GME traded up $0.09 during trading on Friday, hitting $24.94. The company had a trading volume of 9,262,817 shares, compared to its average volume of 9,169,826. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 34.16 and a beta of -0.93. GameStop Corp. has a one year low of $19.42 and a one year high of $35.81. The company has a fifty day simple moving average of $23.06 and a two-hundred day simple moving average of $24.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 11.37 and a quick ratio of 7.89.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The business had revenue of $972.20 million during the quarter, compared to analyst estimates of $823.25 million. During the same period last year, the company earned $0.04 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

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.