Two Sigma Advisers LP Acquires 8,814 Shares of GameStop Corp. (NYSE:GME)

Two Sigma Advisers LP lifted its holdings in shares of GameStop Corp. (NYSE:GME) by 10.7% during the fourth quarter, HoldingsChannel reports. The firm owned 91,477 shares of the company’s stock after purchasing an additional 8,814 shares during the quarter. Two Sigma Advisers LP’s holdings in GameStop were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after buying an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of GameStop during the 4th quarter valued at approximately $37,000. R Squared Ltd purchased a new stake in shares of GameStop during the 4th quarter worth approximately $51,000. Bessemer Group Inc. increased its position in GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock worth $54,000 after buying an additional 691 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after buying an additional 520 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GameStop news, Director Alain Attal bought 10,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were acquired at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the purchase, the director now directly owns 572,464 shares of the company’s stock, valued at $14,740,948. The trade was a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value 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 position. The disclosure for this sale can be found here. Insiders have bought 515,000 shares of company stock worth $11,140,200 in the last three months. 12.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush set a $11.50 price objective on shares of GameStop in a research note on Wednesday, March 26th.

GameStop Stock Performance

Shares of GME opened at $35.03 on Wednesday. GameStop Corp. has a 52-week low of $18.73 and a 52-week high of $48.00. The stock’s 50-day simple moving average is $26.64 and its 200 day simple moving average is $27.26. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 194.62 and a beta of -0.76.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. On average, research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal 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.