Delta Global Management LP bought a new position in shares of GameStop Corp. (NYSE:GME – Free Report) during the first quarter, HoldingsChannel reports. The fund bought 149,669 shares of the company’s stock, valued at approximately $3,448,000.
Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after acquiring an additional 732 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after acquiring an additional 886 shares during the last quarter. Advisory Services Network LLC acquired a new position in GameStop in the 3rd quarter worth about $39,000. Los Angeles Capital Management LLC acquired a new position in GameStop in the 4th quarter worth about $39,000. Finally, Rockefeller Capital Management L.P. raised its position in GameStop by 805.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after purchasing an additional 2,014 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at GameStop
In related news, General Counsel Mark Haymond Robinson sold 3,957 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.62, for a total value of $89,507.34. Following the sale, the general counsel directly owned 104,190 shares in the company, valued at $2,356,777.80. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total transaction of $158,562.30. Following the sale, the insider directly owned 115,125 shares of the company’s stock, valued at $2,576,497.50. This represents a 5.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,125 shares of company stock worth $406,587 over the last quarter. 9.50% of the stock is currently owned by company insiders.
GameStop Stock Down 0.8%
GameStop (NYSE:GME – Get Free Report) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The company had revenue of $835.30 million during the quarter, compared to analysts’ expectations of $766.63 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GME. Wall Street Zen raised GameStop from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings raised GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.
Get Our Latest Research Report on GameStop
GameStop Profile
GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.
Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.
Featured Stories
- Five stocks we like better than GameStop
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding GME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GameStop Corp. (NYSE:GME – Free Report).
Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.
