Triumph Capital Management Has $857,000 Stake in GameStop Corp. $GME

Key Points

• Triumph Capital Management significantly increased its stake in GameStop by 194.6% during the second quarter, bringing their total holdings to 35,155 shares valued at $857,000.
• GameStop's shares are set to undergo an 11-10 stock split on October 3rd, with an increase in institutional ownership noted, currently at 29.21%.
• Despite a positive earnings report showing a revenue increase of 21.8% year-over-year, GameStop has a consensus rating of "Sell" with a target price of $13.50.

Triumph Capital Management raised its position in GameStop Corp. (NYSE:GME - Free Report) by 194.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 35,155 shares of the company's stock after purchasing an additional 23,222 shares during the period. Triumph Capital Management's holdings in GameStop were worth $857,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. First National Corp MA ADV increased its holdings in shares of GameStop by 51.1% in the second quarter. First National Corp MA ADV now owns 46,629 shares of the company's stock valued at $1,137,000 after purchasing an additional 15,766 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of GameStop by 33.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company's stock worth $5,851,000 after acquiring an additional 65,325 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of GameStop by 28.8% during the first quarter. Voya Investment Management LLC now owns 179,896 shares of the company's stock valued at $4,015,000 after buying an additional 40,238 shares in the last quarter. Bayforest Capital Ltd increased its stake in GameStop by 654.6% during the first quarter. Bayforest Capital Ltd now owns 15,212 shares of the company's stock valued at $340,000 after acquiring an additional 13,196 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GameStop by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company's stock worth $25,255,000 after acquiring an additional 94,892 shares in the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the completion of the sale, the general counsel directly owned 116,781 shares in the company, valued at approximately $2,823,764.58. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 13,905 shares of company stock valued at $334,509. 8.58% of the stock is owned by corporate insiders.

GameStop Trading Up 0.6%

NYSE GME traded up $0.16 on Friday, reaching $26.04. The company had a trading volume of 9,532,742 shares, compared to its average volume of 10,188,455. The stock's 50 day moving average is $23.36 and its 200-day moving average is $24.97. GameStop Corp. has a 52 week low of $19.48 and a 52 week high of $35.81. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 35.67 and a beta of -0.93. 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 shares are scheduled to split on the morning of Friday, October 3rd. The 11-10 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Thursday, October 2nd.

GameStop (NYSE:GME - Get Free Report) last issued its earnings results on Tuesday, September 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The business had revenue of $972.20 million during the quarter, compared to analysts' expectations of $823.25 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.