Jump Financial LLC Takes $5.73 Million Position in GameStop Corp. $GME

Key Points

• Jump Financial LLC invested approximately $5.73 million in GameStop Corp. by acquiring 256,500 shares, representing about 0.06% of the company.
• Several other institutional investors also significantly increased their holdings in GameStop during the first quarter, indicating growing interest in the stock.
• GameStop's stock was recently upgraded to a "strong sell" rating by Wedbush, highlighting a consensus rating of "Sell" with an average price target of $13.50.

Jump Financial LLC acquired a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 256,500 shares of the company's stock, valued at approximately $5,725,000. Jump Financial LLC owned approximately 0.06% of GameStop at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its stake 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 buying an additional 30,200 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of GameStop in the first quarter worth approximately $465,000. Virtu Financial LLC purchased a new stake in shares of GameStop in the first quarter worth approximately $1,442,000. California State Teachers Retirement System lifted its position in shares of 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 purchasing an additional 13,576 shares in the last quarter. Finally, Soviero Asset Management LP purchased a new stake in shares of GameStop in the fourth quarter worth approximately $2,037,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GameStop

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total value of $267,309.90. Following the transaction, the general counsel owned 116,781 shares of the company's stock, valued at $2,823,764.58. This trade represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 13,075 shares of company stock valued at $315,685 over the last 90 days. Company insiders own 8.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

GameStop Stock Up 1.4%

GME traded up $0.31 during midday trading on Thursday, hitting $22.81. 6,465,951 shares of the company's stock traded hands, compared to its average volume of 10,822,394. The company has a market cap of $10.20 billion, a PE ratio of 49.58 and a beta of -0.72. The stock's fifty day simple moving average is $23.11 and its 200-day simple moving average is $25.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. GameStop Corp. has a one year low of $19.31 and a one year high of $35.81.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.13. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The firm had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The company's revenue for the quarter was down 16.9% on a year-over-year basis. As a group, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal 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.