Graham Capital Management L.P. Lowers Holdings in GameStop Corp. (NYSE:GME)

Graham Capital Management L.P. reduced its stake in GameStop Corp. (NYSE:GME - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,997 shares of the company's stock after selling 9,097 shares during the period. Graham Capital Management L.P.'s holdings in GameStop were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after acquiring an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in GameStop in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new position in GameStop during the fourth quarter worth $51,000. Bessemer Group Inc. lifted its holdings in shares of 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 in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock valued at $57,000 after purchasing an additional 682 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Stock Performance

Shares of GameStop stock traded up $0.33 during trading on Wednesday, hitting $28.84. The company's stock had a trading volume of 2,591,595 shares, compared to its average volume of 17,099,213. The company has a fifty day simple moving average of $25.77 and a two-hundred day simple moving average of $26.96. GameStop Corp. has a 52 week low of $17.70 and a 52 week high of $48.00. The company has a market capitalization of $12.90 billion, a PE ratio of 160.45 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm's revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. As a group, analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GME. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.

Insiders Place Their Bets

In other GameStop news, Director Alain Attal bought 10,000 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was acquired at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the transaction, the director now owns 572,464 shares in the company, valued at $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Cohen acquired 500,000 shares of GameStop stock in a transaction on Thursday, April 3rd. The shares were purchased at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. This trade represents a 1.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 515,000 shares of company stock worth $11,140,200 in the last three months. 12.28% of the stock is owned by company insiders.

About GameStop

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.