Cubist Systematic Strategies LLC Takes $9.58 Million Position in GameStop Corp. (NYSE:GME)

Cubist Systematic Strategies LLC bought a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 387,881 shares of the company's stock, valued at approximately $9,577,000. Cubist Systematic Strategies LLC owned 0.09% of GameStop as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company's stock valued at $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of GameStop by 14.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company's stock worth $41,702,000 after purchasing an additional 209,861 shares during the last quarter. Renaissance Technologies LLC grew its holdings in GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company's stock valued at $33,261,000 after purchasing an additional 342,178 shares during the period. Principal Financial Group Inc. increased its position in GameStop by 2.6% in the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company's stock worth $12,662,000 after buying an additional 25,159 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company's stock valued at $6,796,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Insider Buying and Selling at GameStop

In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of GameStop stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the acquisition, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.28% of the company's stock.

Wall Street Analysts Forecast Growth

GME has been the topic of several research reports. Wedbush lowered their price target on shares of GameStop from $11.00 to $10.00 and set an "underperform" rating on the stock in a research report on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a "sell" rating in a research note on Wednesday.

GameStop Price Performance

GME stock traded up $0.12 during midday trading on Thursday, reaching $22.30. The company had a trading volume of 5,236,929 shares, compared to its average volume of 21,680,582. The firm has a 50-day moving average price of $22.28 and a 200-day moving average price of $20.60. The company has a market capitalization of $7.83 billion, a P/E ratio of 278.25 and a beta of -0.17. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The firm had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same period in the prior year, the company earned ($0.03) EPS. The company's revenue was down 31.4% on a year-over-year basis. On average, equities analysts predict that GameStop Corp. will post 0.01 EPS for the current 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.