Scratch Capital LLC Purchases New Stake in GameStop Corp. (NYSE:GME)

Scratch Capital LLC acquired a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,820 shares of the company's stock, valued at approximately $715,000. GameStop makes up approximately 0.9% of Scratch Capital LLC's investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its position in shares of GameStop by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock worth $294,000 after buying an additional 502 shares during the period. Christensen King & Associates Investment Services Inc. grew its holdings in GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock worth $853,000 after acquiring an additional 518 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of GameStop by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company's stock worth $575,000 after acquiring an additional 523 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of GameStop by 11.1% in the 4th quarter. Fifth Third Bancorp now owns 5,648 shares of the company's stock valued at $177,000 after purchasing an additional 566 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in shares of GameStop by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 142,931 shares of the company's stock valued at $4,479,000 after purchasing an additional 628 shares during the period. Institutional investors own 29.21% of the company's stock.

GameStop Trading Down 0.8 %

NYSE GME traded down $0.21 on Friday, hitting $24.00. 3,441,219 shares of the company were exchanged, compared to its average volume of 19,301,673. The company has a market cap of $10.72 billion, a PE ratio of 133.31 and a beta of -0.11. The stock has a fifty day moving average of $27.72 and a 200-day moving average of $25.51. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $860.30 million for the quarter, compared to analysts' expectations of $887.68 million. The business's revenue for the quarter was down 20.2% compared to the same quarter last year. On average, analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, insider Daniel William Moore sold 895 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the transaction, the insider now owns 31,385 shares of the company's stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares of the company's stock, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an "underperform" rating and issued a $10.00 target price on shares of GameStop in a report on Friday, December 6th.

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.