Triumph Capital Management Has $857,000 Stock Position 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 increased its position in GameStop Corp. (NYSE:GME - Free Report) by 194.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,155 shares of the company's stock after purchasing an additional 23,222 shares during the quarter. Triumph Capital Management's holdings in GameStop were worth $857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position in GameStop by 10.7% in the first quarter. New York State Teachers Retirement System now owns 311,864 shares of the company's stock worth $6,961,000 after purchasing an additional 30,200 shares during the period. Exchange Traded Concepts LLC acquired a new stake in GameStop in the first quarter worth about $465,000. Virtu Financial LLC acquired a new stake in GameStop in the first quarter worth about $1,442,000. California State Teachers Retirement System increased its position in GameStop by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 394,588 shares of the company's stock worth $12,366,000 after purchasing an additional 13,576 shares during the period. Finally, Soviero Asset Management LP acquired a new stake in GameStop in the fourth quarter worth about $2,037,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Trading Up 2.7%

Shares of GameStop stock opened at $25.60 on Tuesday. GameStop Corp. has a 12-month low of $19.42 and a 12-month high of $35.81. The stock has a market cap of $11.46 billion, a P/E ratio of 35.07 and a beta of -0.92. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The business's 50 day moving average is $23.12 and its 200-day moving average is $24.93.

GameStop's stock is scheduled to split before the market opens on Friday, October 3rd. The 11-10 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Thursday, October 2nd.

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

Analyst Ratings Changes

Separately, Wedbush upgraded 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 MarketBeat, the stock has a consensus rating of "Sell" and a consensus price target of $13.50.

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was 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 $2,823,764.58. This represents a 8.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 13,905 shares of company stock worth $334,509. 8.58% of the stock is owned by corporate insiders.

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.

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