Oak Thistle LLC Makes New $1.30 Million Investment in GameStop Corp. (NYSE:GME)

Oak Thistle LLC bought a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 58,293 shares of the company's stock, valued at approximately $1,301,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in 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 buying an additional 520 shares during the last quarter. Fifth Third Bancorp grew its position in GameStop by 10.3% during the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock worth $139,000 after purchasing an additional 579 shares during the last quarter. Prudential Financial Inc. grew its position in GameStop by 2.3% during the 4th quarter. Prudential Financial Inc. now owns 28,134 shares of the company's stock worth $882,000 after purchasing an additional 640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after purchasing an additional 684 shares during the period. Finally, Bessemer Group Inc. raised its holdings 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 buying an additional 691 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GME shares. Wedbush raised GameStop to a "strong sell" rating in a research note on Tuesday, July 1st. Wall Street Zen raised GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 1,269 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.95, for a total value of $30,392.55. Following the completion of the transaction, the general counsel directly owned 127,836 shares in the company, valued at approximately $3,061,672.20. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.28% of the company's stock.

GameStop Stock Performance

Shares of NYSE:GME traded down $0.23 during trading on Friday, reaching $23.30. The company had a trading volume of 7,058,391 shares, compared to its average volume of 11,633,137. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 50.65 and a beta of -0.81. 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 stock's fifty day moving average price is $25.99 and its 200 day moving average price is $26.07. GameStop Corp. has a fifty-two week low of $18.73 and a fifty-two week high of $35.81.

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. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The business had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. During the same quarter in the previous year, the company posted ($0.12) EPS. The business's revenue was down 16.9% on a year-over-year basis. As a group, equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current 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.