Manatuck Hill Partners LLC Makes New Investment in GameStop Corp. (NYSE:GME)

Manatuck Hill Partners LLC purchased a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 132,800 shares of the company's stock, valued at approximately $4,162,000. GameStop makes up 1.7% of Manatuck Hill Partners LLC's holdings, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of GME. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after buying an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of GameStop in the 4th quarter valued at approximately $37,000. R Squared Ltd bought a new stake in shares of GameStop during the 4th quarter valued at approximately $51,000. Bessemer Group Inc. increased its position in GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after purchasing an additional 691 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in GameStop by 59.9% in the 4th 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. Institutional investors own 29.21% of the company's stock.

Wall Street Analysts Forecast Growth

GME has been the topic of a number of research reports. Wedbush set a $11.50 target price on shares of GameStop in a research note on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

Insider Buying and Selling at GameStop

In other GameStop news, CEO Ryan Cohen bought 500,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the acquisition, the chief executive officer now directly owns 37,347,842 shares of the company's stock, valued at approximately $804,845,995.10. The trade was a 1.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence Cheng purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $21.54 per share, with a total value of $107,700.00. Following the acquisition, the director now directly owns 83,000 shares of the company's stock, valued at $1,787,820. This represents a 6.41 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 515,000 shares of company stock valued at $11,140,200. Corporate insiders own 12.28% of the company's stock.

GameStop Price Performance

Shares of GME traded up $0.15 during trading hours on Wednesday, hitting $26.19. 2,177,627 shares of the stock were exchanged, compared to its average volume of 20,240,960. The firm has a market capitalization of $11.71 billion, a P/E ratio of 145.59 and a beta of -0.76. GameStop Corp. has a fifty-two week low of $14.93 and a fifty-two week high of $64.83. The business has a 50-day moving average of $24.92 and a 200-day moving average of $26.53.

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

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.