Algert Global LLC Purchases Shares of 40,626 GameStop Corp. (NYSE:GME)

Algert Global LLC purchased a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,626 shares of the company's stock, valued at approximately $1,003,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GME. Cubist Systematic Strategies LLC bought a new position in shares of GameStop in the second quarter valued at about $9,577,000. Renaissance Technologies LLC raised its holdings in GameStop by 34.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company's stock valued at $33,261,000 after acquiring an additional 342,178 shares during the period. Van ECK Associates Corp boosted its holdings in shares of GameStop by 14.2% during the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company's stock worth $41,702,000 after acquiring an additional 209,861 shares during the period. Vanguard Group Inc. grew its position in shares of GameStop by 0.7% in the fourth 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. Finally, Tidal Investments LLC grew its position in shares of GameStop by 659.6% in the first quarter. Tidal Investments LLC now owns 139,723 shares of the company's stock valued at $1,749,000 after purchasing an additional 121,328 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

Insider Buying and Selling at GameStop

In related news, Director Lawrence Cheng bought 4,140 shares of the business's stock in a transaction on Monday, July 8th. The shares were purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the transaction, the director now directly owns 69,228 shares of the company's stock, valued at approximately $1,720,315.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the transaction, the insider now owns 37,280 shares of the company's stock, valued at $818,668.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Cheng bought 4,140 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were purchased at an average cost of $24.85 per share, with a total value of $102,879.00. Following the purchase, the director now directly owns 69,228 shares of the company's stock, valued at $1,720,315.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.28% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wedbush reduced their price target on GameStop from $11.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, September 11th. StockNews.com raised shares of GameStop to a "sell" rating in a research report on Wednesday, September 25th.

GameStop Stock Performance

Shares of NYSE GME traded up $0.20 during trading hours on Friday, hitting $21.40. 5,316,802 shares of the stock were exchanged, compared to its average volume of 21,216,238. The company has a market cap of $7.52 billion, a PE ratio of 267.50 and a beta of -0.19. The company's fifty day simple moving average is $21.88 and its two-hundred day simple moving average is $20.97. 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 posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm's revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

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.