Schonfeld Strategic Advisors LLC Takes $679,000 Position in GameStop Corp. (NYSE:GME)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,650 shares of the company's stock, valued at approximately $679,000.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in GameStop by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company's stock valued at $17,750,000 after acquiring an additional 244,339 shares during the last quarter. GAMMA Investing LLC increased its stake in GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company's stock valued at $112,000 after purchasing an additional 1,414 shares in the last quarter. Christensen King & Associates Investment Services Inc. boosted its stake in GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock valued at $853,000 after purchasing an additional 518 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in GameStop in the fourth quarter worth about $252,000. Finally, Joule Financial LLC bought a new stake in shares of GameStop in the fourth quarter valued at approximately $229,000. 29.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at GameStop

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

GameStop Stock Down 3.2%

NYSE:GME traded down $0.91 during midday trading on Thursday, reaching $27.82. The stock had a trading volume of 4,086,448 shares, compared to its average volume of 18,437,383. GameStop Corp. has a 12-month low of $17.70 and a 12-month high of $48.00. The firm has a fifty day simple moving average of $25.28 and a two-hundred day simple moving average of $26.77. The stock has a market cap of $12.44 billion, a P/E ratio of 153.51 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm's revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, sell-side analysts anticipate 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.