GameStop Corp. (NYSE:GME) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. lifted its stake in shares of GameStop Corp. (NYSE:GME) by 266.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,922 shares of the company’s stock after purchasing an additional 5,031 shares during the period. Rakuten Securities Inc.’s holdings in GameStop were worth $154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GME. Vanguard Group Inc. raised its stake in GameStop by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock valued at $1,226,775,000 after purchasing an additional 2,036,032 shares during the last quarter. Slate Path Capital LP purchased a new stake in shares of GameStop during the fourth quarter worth $60,361,000. D. E. Shaw & Co. Inc. grew its holdings in shares of GameStop by 606.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company’s stock worth $51,735,000 after buying an additional 1,417,156 shares in the last quarter. Northern Trust Corp raised its position in shares of GameStop by 26.2% in the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company’s stock valued at $99,389,000 after buying an additional 659,345 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of GameStop by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company’s stock worth $208,769,000 after buying an additional 380,554 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Stock Performance

Shares of GameStop stock opened at $22.97 on Wednesday. The business’s 50 day moving average price is $27.91 and its 200 day moving average price is $27.23. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 49.93 and a beta of -0.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39. GameStop Corp. has a one year low of $18.73 and a one year high of $35.81.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.04 by $0.13. The business had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) EPS. On average, research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush restated an “underperform” rating and set a $13.50 target price on shares of GameStop in a report on Wednesday, June 11th.

Insider Buying and Selling

In other GameStop news, CEO Ryan Cohen acquired 500,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the transaction, the chief executive officer now owns 37,347,842 shares of the company’s stock, valued at approximately $804,845,995.10. The trade was a 1.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 1,608 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now owns 29,777 shares of the company’s stock, valued at approximately $670,875.81. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 515,000 shares of company stock worth $11,140,200. Insiders own 12.28% of the company’s stock.

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.