Millennium Management LLC Grows Stake in GameStop Corp. (NYSE:GME)

Millennium Management LLC grew its holdings in GameStop Corp. (NYSE:GME - Free Report) by 226.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,800 shares of the company's stock after purchasing an additional 85,893 shares during the period. Millennium Management LLC's holdings in GameStop were worth $3,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in shares of GameStop in the 2nd quarter valued at $9,577,000. Renaissance Technologies LLC raised its holdings in shares of 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 buying an additional 342,178 shares during the period. Van ECK Associates Corp raised its holdings in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company's stock valued at $41,702,000 after buying an additional 209,861 shares during the period. Vanguard Group Inc. raised its holdings in shares of GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company's stock valued at $446,143,000 after buying an additional 167,145 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of GameStop by 659.6% in the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company's stock valued at $1,749,000 after buying an additional 121,328 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

Analyst Ratings Changes

GME has been the topic of several research analyst reports. Wedbush cut their price objective on GameStop from $11.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a "sell" rating in a report on Wednesday, September 25th.

Insider Activity

In related news, insider Daniel William Moore sold 1,972 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares of the company's stock, valued at $818,668.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 11,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total transaction of $229,020.00. Following the completion of the sale, the general counsel now directly owns 43,927 shares of the company's stock, valued at approximately $914,560.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 1,972 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the sale, the insider now directly owns 37,280 shares of the company's stock, valued at $818,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is currently owned by insiders.

GameStop Stock Down 0.2 %

NYSE GME traded down $0.05 during trading hours on Tuesday, hitting $21.28. 4,824,993 shares of the company were exchanged, compared to its average volume of 20,642,631. The company has a 50 day moving average of $21.74 and a two-hundred day moving average of $21.39. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 266.00 and a beta of -0.19.

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