Virtu Financial LLC Purchases New Stake in GameStop Corp. (NYSE:GME)

Key Points

• Virtu Financial LLC invested $1.44 million in GameStop Corp. by purchasing 64,626 shares in the first quarter, as disclosed in a recent 13F filing.
• Institutional investors now hold 29.21% of GameStop's stock, with significant increases in holdings reported by Wells Fargo, Invesco, and Bessemer Group Inc. during the fourth quarter.
• GameStop's recent quarterly earnings showed an EPS of $0.17, surpassing analysts' expectations, although the company's revenue decreased by 16.9% year-over-year to $732.40 million.

Virtu Financial LLC purchased a new position in GameStop Corp. (NYSE:GME - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 64,626 shares of the company's stock, valued at approximately $1,442,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in GameStop by 10.3% in 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. Bessemer Group Inc. grew its stake in shares of GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after buying an additional 691 shares in the last quarter. Scratch Capital LLC increased its holdings in GameStop by 3.3% in the first quarter. Scratch Capital LLC now owns 23,570 shares of the company's stock worth $526,000 after buying an additional 750 shares during the last quarter. Xponance Inc. raised its position in GameStop by 1.7% during the first quarter. Xponance Inc. now owns 47,392 shares of the company's stock valued at $1,058,000 after acquiring an additional 785 shares in the last quarter. Finally, Utah Retirement Systems raised its position in GameStop by 5.0% during the fourth quarter. Utah Retirement Systems now owns 21,100 shares of the company's stock valued at $661,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush upgraded shares of GameStop to a "strong sell" rating in a report on Tuesday, July 1st.

GameStop Stock Performance

GME stock traded down $0.05 during trading on Friday, reaching $22.85. 2,041,471 shares of the stock were exchanged, compared to its average volume of 11,109,564. GameStop Corp. has a twelve month low of $19.31 and a twelve month high of $35.81. The company has a current ratio of 8.39, a quick ratio of 7.89 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $10.22 billion, a P/E ratio of 49.63 and a beta of -0.72. The stock has a 50 day simple moving average of $23.67 and a 200-day simple moving average of $25.38.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.13. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The company had revenue of $732.40 million for the quarter, compared to the consensus estimate of $754.23 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The company's quarterly revenue was down 16.9% on a year-over-year basis. As a group, sell-side analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the 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 sale, the general counsel owned 116,781 shares of the company's stock, valued at $2,823,764.58. This represents a 8.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 13,075 shares of company stock valued at $315,685 over the last quarter. 8.58% of the stock is currently owned by insiders.

GameStop Company 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.