SG Americas Securities LLC Sells 24,026 Shares of GameStop Corp. $GME

SG Americas Securities LLC cut its position in GameStop Corp. (NYSE:GME) by 65.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,427 shares of the company’s stock after selling 24,026 shares during the period. SG Americas Securities LLC’s holdings in GameStop were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of GameStop by 308.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after buying an additional 732 shares during the period. EverSource Wealth Advisors LLC raised its stake in GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after buying an additional 886 shares during the period. Advisory Services Network LLC bought a new position in GameStop during the third quarter worth about $39,000. Los Angeles Capital Management LLC bought a new position in GameStop during the fourth quarter worth about $39,000. Finally, Rockefeller Capital Management L.P. grew its stake in GameStop by 805.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after acquiring an additional 2,014 shares during the period. 29.21% of the stock is owned by institutional investors.

GameStop Stock Performance

Shares of GameStop stock opened at $21.68 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 16.43 and a beta of 1.76. The stock’s 50-day moving average is $22.18 and its 200-day moving average is $22.83. GameStop Corp. has a one year low of $19.93 and a one year high of $28.10.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. The business had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. GameStop had a return on equity of 13.75% and a net margin of 20.45%.GameStop’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS.

Insider Activity at GameStop

In other news, General Counsel Mark Haymond Robinson sold 7,083 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,517.54. Following the sale, the general counsel owned 108,147 shares of the company’s stock, valued at $2,420,329.86. The trade was a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,562.30. Following the transaction, the insider owned 115,125 shares of the company’s stock, valued at $2,576,497.50. The trade was a 5.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,037 shares of company stock valued at $497,306 over the last ninety days. Company insiders own 9.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings raised GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.