Slate Path Capital LP Purchases Shares of 1,926,000 GameStop Corp. (NYSE:GME)

Slate Path Capital LP acquired a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,926,000 shares of the company's stock, valued at approximately $60,361,000. Slate Path Capital LP owned approximately 0.43% of GameStop as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in GameStop by 223.5% during the fourth 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 during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of GameStop during the fourth quarter worth $37,000. R Squared Ltd bought a new stake in shares of GameStop in the fourth quarter valued at about $51,000. Bessemer Group Inc. boosted 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 acquiring an additional 691 shares during the last quarter. Finally, UMB Bank n.a. grew its position in 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 in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Wall Street Analyst Weigh In

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

GameStop Stock Up 1.4 %

Shares of GME traded up $0.37 during trading hours on Friday, hitting $27.45. 5,817,604 shares of the company were exchanged, compared to its average volume of 20,631,921. The firm's fifty day moving average is $24.67 and its 200 day moving average is $26.27. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 152.51 and a beta of -0.44. GameStop Corp. has a fifty-two week low of $10.70 and a fifty-two week high of $64.83.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly 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 company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop's revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. Analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insiders Place Their Bets

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

GameStop 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.