Global Retirement Partners LLC Invests $320,000 in GameStop Corp. $GME

Global Retirement Partners LLC purchased a new stake in GameStop Corp. (NYSE:GME) during the second quarter, according to its most recent filing with the SEC. The firm purchased 13,128 shares of the company’s stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in GameStop by 1.0% during the second quarter. Geode Capital Management LLC now owns 7,049,033 shares of the company’s stock valued at $171,955,000 after purchasing an additional 66,550 shares during the period. Northern Trust Corp grew its holdings in shares of GameStop by 0.4% in the 1st quarter. Northern Trust Corp now owns 3,183,116 shares of the company’s stock valued at $71,047,000 after buying an additional 11,813 shares during the period. Alyeska Investment Group L.P. increased its position in shares of GameStop by 895.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,641,427 shares of the company’s stock valued at $58,957,000 after buying an additional 2,376,051 shares in the last quarter. Nuveen LLC bought a new stake in shares of GameStop in the 1st quarter valued at $33,741,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in GameStop by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock worth $25,255,000 after buying an additional 94,892 shares during the period. Institutional investors own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of GameStop in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.50.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 4,449 shares of GameStop stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $122,703.42. Following the sale, the general counsel owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. This trade represents a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 6,509 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $179,518.22. Following the transaction, the insider directly owned 112,620 shares of the company’s stock, valued at approximately $3,106,059.60. This trade represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,788 shares of company stock worth $321,046. 8.58% of the stock is owned by insiders.

GameStop Trading Up 4.7%

Shares of NYSE:GME opened at $22.64 on Monday. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 31.01 and a beta of -1.00. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $35.81. The company’s fifty day simple moving average is $23.17 and its 200 day simple moving average is $24.23. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The firm had revenue of $972.20 million during the quarter, compared to analysts’ expectations of $823.25 million. During the same quarter in the prior year, the company earned $0.04 EPS. The company’s revenue was up 21.8% on a year-over-year basis. As a group, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal 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.