GameStop Corp. $GME Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its holdings in GameStop Corp. by 29.3% in the first quarter, now owning 128,751 shares valued at approximately $2.874 million after selling 53,230 shares.
• Hedge funds, including UMB Bank and US Bancorp, have simultaneously increased their positions in GameStop, with UMB Bank lifting its stake by 100.6% and US Bancorp by 92.5%.
• GameStop shares received a "strong sell" rating from Wedbush, with a current average price target of $13.50 as analysts predict modest earnings for the fiscal year.

Algert Global LLC trimmed its position in GameStop Corp. (NYSE:GME - Free Report) by 29.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,751 shares of the company's stock after selling 53,230 shares during the period. Algert Global LLC's holdings in GameStop were worth $2,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp lifted its holdings in GameStop by 26.2% in the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock valued at $99,389,000 after acquiring an additional 659,345 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in GameStop by 606.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company's stock valued at $51,735,000 after acquiring an additional 1,417,156 shares during the period. Nuveen LLC acquired a new stake in GameStop in the first quarter valued at $33,741,000. Dimensional Fund Advisors LP lifted its holdings in GameStop by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,329,965 shares of the company's stock valued at $41,703,000 after acquiring an additional 245,347 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in GameStop by 5.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,179,710 shares of the company's stock valued at $36,972,000 after acquiring an additional 65,797 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total value of $267,309.90. Following the completion of the transaction, the general counsel owned 116,781 shares of the company's stock, valued at approximately $2,823,764.58. The trade was a 8.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 13,075 shares of company stock valued at $315,685. Insiders own 8.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

GameStop Price Performance

Shares of NYSE:GME traded down $0.32 during midday trading on Tuesday, hitting $22.37. 7,837,119 shares of the stock were exchanged, compared to its average volume of 5,674,285. The stock has a market cap of $10.00 billion, a P/E ratio of 48.62 and a beta of -0.72. The company has a current ratio of 8.39, a quick ratio of 7.89 and a debt-to-equity ratio of 0.30. GameStop Corp. has a twelve month low of $19.31 and a twelve month high of $35.81. The company has a 50 day moving average price of $23.14 and a 200-day moving average price of $25.19.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13. The business had revenue of $732.40 million during 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 business's revenue was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, research analysts forecast that GameStop Corp. will post 0.08 earnings per share 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.