GAMMA Investing LLC Buys 131,606 Shares of GameStop Corp. (NYSE:GME)

GAMMA Investing LLC grew its position in GameStop Corp. (NYSE:GME - Free Report) by 3,692.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 135,170 shares of the company's stock after buying an additional 131,606 shares during the period. GAMMA Investing LLC's holdings in GameStop were worth $3,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after purchasing an additional 684 shares during the last quarter. Bessemer Group Inc. increased its position in shares of GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after acquiring an additional 691 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after acquiring an additional 520 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of GameStop in the fourth quarter valued at about $99,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of GameStop in the fourth quarter valued at approximately $130,000. 29.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GameStop news, Director Alain Attal bought 10,000 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was purchased at an average cost of $25.75 per share, with a total value of $257,500.00. Following the transaction, the director now directly owns 572,464 shares in the company, valued at $14,740,948. This trade represents a 1.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Cohen bought 500,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the transaction, the chief executive officer now owns 37,347,842 shares in the company, valued at approximately $804,845,995.10. The trade was a 1.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 515,000 shares of company stock worth $11,140,200. Corporate insiders own 12.28% of the company's stock.

GameStop Trading Up 0.2%

NYSE GME traded up $0.04 during trading on Friday, hitting $22.18. 59,696,094 shares of the company's stock were exchanged, compared to its average volume of 12,394,720. The company has a market cap of $9.92 billion, a PE ratio of 123.20 and a beta of -0.69. GameStop Corp. has a fifty-two week low of $18.73 and a fifty-two week high of $35.81. The stock's 50 day moving average price is $27.96 and its two-hundred day moving average price is $27.35.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.13. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The firm's revenue was down 16.9% compared to the same quarter last year. Analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GME. Wedbush reaffirmed an "underperform" rating and set a $13.50 price objective on shares of GameStop in a research report on Wednesday. Wall Street Zen raised GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.

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.