Maripau Wealth Management LLC Acquires Shares of 62,186 GameStop Corp. $GME

Key Points

• Maripau Wealth Management purchased a new stake of 62,186 shares of GameStop in Q2, worth about $1.52 million, joining other institutional buyers as total institutional ownership is ~29.21%.
• Insiders have been selling recently — a combined 11,788 shares over the past 90 days (including Mark Haymond Robinson and Daniel William Moore) — and insiders now hold 8.58% of the company.
• GameStop beat Q2 estimates (EPS $0.25 vs $0.19; revenue $972.2M, up 21.8%), but analysts remain bearish with a consensus "Reduce" rating and an average price target of $13.50.

Maripau Wealth Management LLC purchased a new stake in GameStop Corp. (NYSE:GME - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,186 shares of the company's stock, valued at approximately $1,517,000.

Several other large investors have also made changes to their positions in the business. Virtu Financial LLC acquired a new stake in GameStop in the 1st quarter worth about $1,442,000. Bayforest Capital Ltd grew its holdings in shares of GameStop by 654.6% during the first quarter. Bayforest Capital Ltd now owns 15,212 shares of the company's stock worth $340,000 after buying an additional 13,196 shares in the last quarter. Triumph Capital Management grew its holdings in shares of GameStop by 194.6% during the second quarter. Triumph Capital Management now owns 35,155 shares of the company's stock worth $857,000 after buying an additional 23,222 shares in the last quarter. Northern Trust Corp lifted its stake in shares of GameStop by 0.4% in the first quarter. Northern Trust Corp now owns 3,183,116 shares of the company's stock worth $71,047,000 after buying an additional 11,813 shares in the last quarter. Finally, Invesco Ltd. boosted its position in GameStop by 12.3% during the first quarter. Invesco Ltd. now owns 657,703 shares of the company's stock worth $14,680,000 after acquiring an additional 71,946 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 4,449 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $122,703.42. Following the completion of the transaction, the general counsel directly owned 112,302 shares in the company, valued at $3,097,289.16. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 6,509 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $179,518.22. Following the sale, the insider owned 112,620 shares in the company, valued at $3,106,059.60. This trade represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,788 shares of company stock valued at $321,046 over the last ninety days. Insiders own 8.58% of the company's stock.

GameStop Price Performance

GME stock opened at $20.13 on Monday. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $35.81. The business has a fifty day moving average of $23.61 and a two-hundred day moving average of $24.46. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 27.58 and a beta of -1.00. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of GameStop in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GameStop presently has a consensus rating of "Reduce" and an average price target of $13.50.

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.

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