BLKBRD Asset Management LP Decreases Holdings in GameStop Corp. $GME

BLKBRD Asset Management LP cut its holdings in shares of GameStop Corp. (NYSE:GME) by 54.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,016 shares of the company’s stock after selling 178,153 shares during the quarter. GameStop makes up 4.1% of BLKBRD Asset Management LP’s investment portfolio, making the stock its 17th largest holding. BLKBRD Asset Management LP’s holdings in GameStop were worth $3,032,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after purchasing an additional 732 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in GameStop by 226.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after acquiring an additional 886 shares during the last quarter. Advisory Services Network LLC purchased a new stake in GameStop in the 3rd quarter worth about $39,000. Los Angeles Capital Management LLC purchased a new stake in GameStop in the 4th quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in GameStop in the 4th quarter worth about $54,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen raised GameStop from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings raised GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

GameStop Stock Down 1.5%

Shares of NYSE GME opened at $21.42 on Wednesday. GameStop Corp. has a 52 week low of $19.93 and a 52 week high of $28.10. The business has a 50-day simple moving average of $23.06 and a two-hundred day simple moving average of $22.92. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71. The company has a market cap of $9.61 billion, a P/E ratio of 16.23 and a beta of 1.78.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The business had revenue of $835.30 million during the quarter, compared to the consensus estimate of $766.64 million. During the same quarter last year, the company earned $0.17 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 3,912 shares of GameStop stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $23.19, for a total transaction of $90,719.28. Following the completion of the sale, the general counsel owned 115,230 shares in the company, valued at approximately $2,672,183.70. This trade represents a 3.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,210 shares of GameStop stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,397.40. Following the sale, the insider owned 101,014 shares of the company’s stock, valued at approximately $2,317,261.16. This trade represents a 6.66% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,331 shares of company stock valued at $421,491. Corporate insiders own 9.50% of the company’s stock.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.