GameStop Corp. $GME Holdings Lifted by Marathon Trading Investment Management LLC

Key Points

• Marathon Trading Investment Management LLC significantly increased its stake in GameStop Corp. by 211.1% in the first quarter, now holding 349,280 shares, which is approximately 1.0% of its investment portfolio.
• Insider trading activity includes the sale of 11,055 shares by General Counsel Mark Haymond Robinson, representing an 8.65% decrease in his position.
• GameStop reported earnings of $0.17 per share for the last quarter, exceeding analysts' expectations, despite a 16.9% decrease in revenue year-over-year.

Marathon Trading Investment Management LLC grew its position in GameStop Corp. (NYSE:GME - Free Report) by 211.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 349,280 shares of the company's stock after purchasing an additional 236,996 shares during the quarter. GameStop makes up about 1.0% of Marathon Trading Investment Management LLC's portfolio, making the stock its 7th largest position. Marathon Trading Investment Management LLC owned 0.08% of GameStop worth $7,796,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GME. Bessemer Group Inc. grew its position in shares of GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after buying an additional 691 shares during the period. UMB Bank n.a. increased its stake 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 in the last quarter. US Bancorp DE increased its stake in GameStop by 92.5% in the first quarter. US Bancorp DE now owns 3,726 shares of the company's stock valued at $83,000 after purchasing an additional 1,790 shares in the last quarter. Bogart Wealth LLC raised its holdings in shares of GameStop by 100.0% during the first quarter. Bogart Wealth LLC now owns 4,000 shares of the company's stock valued at $89,000 after purchasing an additional 2,000 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of GameStop by 31.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company's stock worth $93,000 after purchasing an additional 1,000 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush raised GameStop to a "strong sell" rating in a research note on Tuesday, July 1st.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total value of $267,309.90. Following the completion of the sale, the general counsel directly owned 116,781 shares of the company's stock, valued at $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 13,075 shares of company stock worth $315,685. 8.58% of the stock is currently owned by insiders.

GameStop Stock Up 0.7%

Shares of NYSE:GME traded up $0.16 during trading on Monday, reaching $23.10. 5,082,517 shares of the stock were exchanged, compared to its average volume of 7,397,725. The stock has a fifty day moving average of $23.40 and a two-hundred day moving average of $25.29. GameStop Corp. has a 1-year low of $19.31 and a 1-year high of $35.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 50.22 and a beta of -0.72.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping 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 net margin of 5.67% and a return on equity of 5.25%. The business's revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal 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.