Quantinno Capital Management LP Purchases 109,788 Shares of GameStop Corp. $GME

Key Points

• Quantinno Capital Management increased its GameStop stake by 377.8%, purchasing 109,788 additional shares to own 138,846 shares valued at approximately $3.2 million. Renaissance Technologies also significantly expanded its position, while institutional investors collectively own 29.21% of GME.
• GameStop’s latest quarterly results exceeded expectations, with adjusted EPS of $0.30 versus the $0.16 consensus estimate and revenue of $835.3 million, up 14% year over year.
• Analyst sentiment remains cautious: one analyst rates the stock “Hold,” another recently upgraded it to “Buy,” and MarketBeat lists an overall average rating of “Hold.” Meanwhile, insiders sold 18,125 shares worth about $406,587 over the past three months.

Quantinno Capital Management LP boosted its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 377.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,846 shares of the company's stock after purchasing an additional 109,788 shares during the quarter. Quantinno Capital Management LP's holdings in GameStop were worth $3,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Delta Global Management LP bought a new stake in shares of GameStop in the 1st quarter worth approximately $3,448,000. OMERS ADMINISTRATION Corp grew its position in GameStop by 23.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 81,283 shares of the company's stock valued at $1,873,000 after acquiring an additional 15,200 shares during the period. Entropy Technologies LP acquired a new stake in shares of GameStop during the 1st quarter worth about $905,000. Renaissance Technologies LLC increased its holdings in shares of GameStop by 376.2% during the first quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company's stock worth $61,063,000 after buying an additional 2,093,755 shares in the last quarter. Finally, Inceptionr LLC acquired a new stake in GameStop during the 1st quarter valued at $743,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on GME shares. Wall Street Zen upgraded GameStop from a "hold" rating to a "buy" rating in a report on Sunday, June 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of GameStop in a research report on Wednesday, July 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 7,083 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,517.54. Following the completion of the transaction, the general counsel owned 108,147 shares in the company, valued at $2,420,329.86. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,562.30. Following the completion of the transaction, the insider directly owned 115,125 shares of the company's stock, valued at approximately $2,576,497.50. The trade was a 5.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 18,125 shares of company stock valued at $406,587. Insiders own 9.50% of the company's stock.

GameStop Stock Down 0.7%

NYSE:GME opened at $19.11 on Friday. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71. GameStop Corp. has a 12-month low of $18.55 and a 12-month high of $28.10. The firm has a market capitalization of $8.57 billion, a P/E ratio of 14.47 and a beta of 1.79. The stock's fifty day simple moving average is $21.58 and its 200-day simple moving average is $22.85.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The company had revenue of $835.30 million during the quarter, compared to analysts' expectations of $766.63 million. During the same period in the prior year, the business posted $0.17 EPS. GameStop's revenue was up 14.0% on a year-over-year basis.

About GameStop

GameStop Corp. NYSE: GME is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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