Bayforest Capital Ltd Has $340,000 Stock Position in 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 grew its position in GameStop Corp. (NYSE:GME - Free Report) by 654.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,212 shares of the company's stock after acquiring 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 reporting period.

Several other large investors have also modified their holdings of the stock. Fifth Third Bancorp raised its stake in shares of GameStop by 10.3% during the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock worth $139,000 after purchasing an additional 579 shares during the last quarter. Scratch Capital LLC raised its position in GameStop by 3.3% in the first quarter. Scratch Capital LLC now owns 23,570 shares of the company's stock worth $526,000 after acquiring an additional 750 shares in the last quarter. State of Wyoming raised its position in GameStop by 11.0% in the first quarter. State of Wyoming now owns 7,688 shares of the company's stock worth $172,000 after acquiring an additional 759 shares in the last quarter. Xponance Inc. raised its position in GameStop by 1.7% in the first quarter. Xponance Inc. now owns 47,392 shares of the company's stock worth $1,058,000 after acquiring an additional 785 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in GameStop by 31.8% in the first quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company's stock worth $93,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company's stock.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the general counsel owned 116,781 shares in the company, valued at $2,823,764.58. The trade was a 8.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 13,905 shares of company stock worth $334,509. Insiders own 8.58% of the company's stock.

Analyst Ratings Changes

Separately, Wedbush upgraded GameStop to a "strong sell" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell" and a consensus target price of $13.50.

GameStop Stock Up 2.6%

GME stock traded up $0.65 during midday trading on Tuesday, hitting $26.18. 5,060,634 shares of the company's stock were exchanged, compared to its average volume of 10,950,981. The firm has a 50 day moving average price of $23.12 and a 200-day moving average price of $24.93. GameStop Corp. has a 12-month low of $19.42 and a 12-month high of $35.81. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 35.87 and a beta of -0.92. The company has a current ratio of 11.37, a quick ratio of 10.79 and a debt-to-equity ratio of 0.80.

Shares of GameStop are set to split before the market opens on Friday, October 3rd. The 11-10 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Thursday, October 2nd.

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