Virtu Financial LLC Invests $1.75 Million in GameStop Corp. $GME

Key Points

• Virtu Financial LLC bought a new position in GameStop during the fourth quarter, acquiring 86,926 shares worth about $1.75 million.
• GameStop reported stronger-than-expected quarterly results, with EPS of $0.30 versus the $0.16 estimate and revenue up 14% year over year to $835.3 million.
• Institutional ownership remains significant, while insider activity has leaned toward selling; recent insider sales totaled 18,331 shares over the last three months.

Virtu Financial LLC purchased a new position in GameStop Corp. (NYSE:GME - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 86,926 shares of the company's stock, valued at approximately $1,745,000.

A number of other hedge funds have also recently bought and sold shares of the business. State Street Corp increased its holdings in GameStop by 0.8% during the 4th quarter. State Street Corp now owns 12,469,631 shares of the company's stock worth $250,390,000 after purchasing an additional 96,802 shares during the last quarter. Geode Capital Management LLC raised its holdings in GameStop by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company's stock valued at $147,431,000 after acquiring an additional 92,996 shares in the last quarter. Invesco Ltd. boosted its stake in GameStop by 5.5% during the 3rd quarter. Invesco Ltd. now owns 4,068,547 shares of the company's stock valued at $110,990,000 after acquiring an additional 210,523 shares during the last quarter. Northern Trust Corp grew its holdings in GameStop by 1.1% during the 3rd quarter. Northern Trust Corp now owns 3,250,275 shares of the company's stock worth $88,668,000 after acquiring an additional 35,275 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of GameStop by 58.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company's stock worth $84,528,000 after purchasing an additional 1,141,215 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

GameStop Stock Performance

GME stock opened at $21.44 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 11.91 and a current ratio of 12.40. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 16.24 and a beta of 1.77. GameStop Corp. has a 1 year low of $19.93 and a 1 year high of $28.10. The stock's fifty day moving average is $22.96 and its two-hundred day moving average is $22.90.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The company had revenue of $835.30 million during the quarter, compared to the consensus estimate of $766.63 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company's revenue for the quarter was up 14.0% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts have recently commented on GME shares. Wall Street Zen upgraded GameStop from a "hold" rating to a "buy" rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of GameStop from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Insider Transactions at GameStop

In other GameStop news, insider Daniel William Moore sold 7,210 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,397.40. Following the sale, the insider owned 101,014 shares in the company, valued at approximately $2,317,261.16. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 7,209 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,374.46. Following the completion of the sale, the general counsel owned 97,946 shares in the company, valued at $2,246,881.24. The trade was a 6.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,331 shares of company stock valued at $421,491 over the last three months. 9.50% of the stock is currently owned by company insiders.

GameStop Profile

GameStop Corp. NYSE: GME is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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