Mariner LLC Makes New Investment in GameStop Corp. (NYSE:GME)

Mariner LLC purchased a new stake in GameStop Corp. (NYSE:GME - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,838 shares of the company's stock, valued at approximately $308,000.

A number of other hedge funds have also modified their holdings of GME. Summit Investment Advisors Inc. lifted its holdings in GameStop by 2.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 81,385 shares of the company's stock valued at $2,551,000 after purchasing an additional 1,812 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of GameStop by 64.9% during the fourth quarter. Sterling Capital Management LLC now owns 23,318 shares of the company's stock valued at $731,000 after buying an additional 9,179 shares during the period. Treasurer of the State of North Carolina boosted its position in GameStop by 5.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 172,566 shares of the company's stock worth $5,408,000 after acquiring an additional 8,870 shares during the last quarter. Scotia Capital Inc. acquired a new stake in GameStop during the fourth quarter worth approximately $285,000. Finally, Bessemer Group Inc. grew its stake in GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after acquiring an additional 691 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com raised GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush set a $11.50 target price on GameStop in a research report on Wednesday, March 26th.

Insider Activity

In related news, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the transaction, the insider now owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the sale, the general counsel now directly owns 37,663 shares of the company's stock, valued at approximately $848,547.39. This trade represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 515,000 shares of company stock valued at $11,140,200 in the last three months. Corporate insiders own 12.28% of the company's stock.

GameStop Stock Performance

GameStop stock traded up $0.75 during trading on Friday, reaching $27.53. The company had a trading volume of 7,749,796 shares, compared to its average volume of 20,021,174. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 152.95 and a beta of -0.76. GameStop Corp. has a 12-month low of $17.70 and a 12-month high of $64.83. The stock's 50 day moving average price is $25.05 and its two-hundred day moving average price is $26.65.

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