Slate Path Capital LP Purchases Shares of 1,926,000 GameStop Corp. (NYSE:GME)

Slate Path Capital LP purchased a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,926,000 shares of the company's stock, valued at approximately $60,361,000. Slate Path Capital LP owned approximately 0.43% of GameStop as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. CIBC Asset Management Inc increased its holdings in GameStop by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock valued at $294,000 after buying an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. grew its position in shares of GameStop by 1.9% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock worth $853,000 after purchasing an additional 518 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after buying an additional 520 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in 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 purchasing an additional 523 shares in the last quarter. Finally, Securian Asset Management Inc. lifted its position in shares of GameStop by 1.8% in the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock worth $963,000 after buying an additional 557 shares in the last quarter. Institutional investors own 29.21% of the company's stock.

Insider Activity

In other news, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the sale, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Cohen bought 500,000 shares of GameStop stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the purchase, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. The trade was a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 515,000 shares of company stock worth $11,140,200. 12.28% of the stock is currently owned by company insiders.

GameStop Trading Up 0.1 %

Shares of GME opened at $26.80 on Tuesday. The firm has a market capitalization of $11.98 billion, a P/E ratio of 148.90 and a beta of -0.44. GameStop Corp. has a 12-month low of $10.01 and a 12-month high of $64.83. The firm has a fifty day moving average price of $24.64 and a 200-day moving average price of $26.09.

GameStop (NYSE:GME - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the business earned $0.21 EPS. The business's revenue for the quarter was down 28.5% compared to the same quarter last year. Analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wedbush set a $11.50 price target on shares of GameStop in a research report on Wednesday, March 26th. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.

About GameStop

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.

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