64,626 Shares in GameStop Corp. (NYSE:GME) Purchased by Virtu Financial LLC

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 bought a new position in GameStop Corp. (NYSE:GME - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 64,626 shares of the company's stock, valued at approximately $1,442,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in GameStop by 10.3% in the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock valued at $139,000 after purchasing an additional 579 shares during the period. Bessemer Group Inc. raised its position in GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after purchasing an additional 691 shares during the period. Scratch Capital LLC raised its position in GameStop by 3.3% in the first quarter. Scratch Capital LLC now owns 23,570 shares of the company's stock valued at $526,000 after purchasing an additional 750 shares during the period. Xponance Inc. raised its position in GameStop by 1.7% in the first quarter. Xponance Inc. now owns 47,392 shares of the company's stock valued at $1,058,000 after purchasing an additional 785 shares during the period. Finally, Utah Retirement Systems raised its position in GameStop by 5.0% in the fourth quarter. Utah Retirement Systems now owns 21,100 shares of the company's stock valued at $661,000 after purchasing an additional 1,000 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total transaction of $267,309.90. Following the sale, the general counsel directly owned 116,781 shares of the company's stock, valued at approximately $2,823,764.58. The trade was a 8.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 13,075 shares of company stock worth $315,685 over the last 90 days. 8.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wedbush raised GameStop to a "strong sell" rating in a research report on Tuesday, July 1st.

GameStop Stock Up 2.3%

NYSE:GME traded up $0.52 during mid-day trading on Tuesday, hitting $22.93. The company had a trading volume of 4,842,112 shares, compared to its average volume of 7,848,370. The business has a fifty day simple moving average of $23.95 and a 200-day simple moving average of $25.43. The company has a current ratio of 8.39, a quick ratio of 7.89 and a debt-to-equity ratio of 0.30. GameStop Corp. has a 1 year low of $19.31 and a 1 year high of $35.81. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 49.85 and a beta of -0.72.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results 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 return on equity of 5.25% and a net margin of 5.67%. The business had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The company's revenue for the quarter was down 16.9% compared to the same quarter last year. Equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

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.