SG Americas Securities LLC Acquires Shares of 41,863 GameStop Corp. (NYSE:GME)

SG Americas Securities LLC bought a new position in GameStop Corp. (NYSE:GME - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 41,863 shares of the company's stock, valued at approximately $934,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock worth $1,226,775,000 after purchasing an additional 2,036,032 shares during the period. Geode Capital Management LLC increased its stake in shares of GameStop by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock valued at $208,769,000 after buying an additional 380,554 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of GameStop by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company's stock valued at $113,146,000 after buying an additional 107,354 shares during the period. Northern Trust Corp raised its holdings in shares of GameStop by 26.2% during the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock valued at $99,389,000 after acquiring an additional 659,345 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of GameStop by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company's stock valued at $80,401,000 after acquiring an additional 60,673 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GameStop

In related news, CEO Ryan Cohen purchased 500,000 shares of GameStop stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alain Attal purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average cost of $25.75 per share, with a total value of $257,500.00. Following the completion of the purchase, the director now owns 572,464 shares of the company's stock, valued at $14,740,948. The trade was a 1.78% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 515,000 shares of company stock valued at $11,140,200 over the last ninety days. 12.28% of the stock is currently owned by company insiders.

GameStop Stock Performance

GME traded up $0.45 during trading on Thursday, hitting $23.44. The company's stock had a trading volume of 14,647,500 shares, compared to its average volume of 11,833,628. GameStop Corp. has a one year low of $18.73 and a one year high of $35.81. The business's 50 day simple moving average is $27.87 and its 200-day simple moving average is $27.21. The company has a quick ratio of 7.89, a current ratio of 8.39 and a debt-to-equity ratio of 0.30. The firm has a market cap of $10.48 billion, a PE ratio of 50.95 and a beta of -0.69.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $754.23 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The company's revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on GME shares. Wedbush reiterated an "underperform" rating and issued a $13.50 price target on shares of GameStop in a research note on Wednesday, June 11th. Wall Street Zen raised shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.

About GameStop

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.