FORA Capital LLC Buys New Shares in GameStop Corp. $GME

FORA Capital LLC purchased a new stake in shares of GameStop Corp. (NYSE:GME) during the third quarter, Holdings Channel reports. The firm purchased 71,430 shares of the company’s stock, valued at approximately $1,949,000.

A number of other hedge funds also recently bought and sold shares of GME. AQR Capital Management LLC lifted its holdings in GameStop by 312.2% in the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock worth $623,000 after buying an additional 22,297 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of GameStop by 33.2% during the first quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after buying an additional 65,325 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of GameStop by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock valued at $25,255,000 after acquiring an additional 94,892 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GameStop during the second quarter valued at approximately $350,000. Finally, ProShare Advisors LLC lifted its stake in GameStop by 4.2% in the second quarter. ProShare Advisors LLC now owns 18,047 shares of the company’s stock worth $440,000 after acquiring an additional 726 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of GME stock opened at $23.52 on Friday. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 28.68 and a beta of 2.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39. GameStop Corp. has a one year low of $19.93 and a one year high of $35.81. The company’s 50-day moving average is $23.29 and its 200 day moving average is $23.10.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $987.29 million. GameStop had a net margin of 11.08% and a return on equity of 9.75%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Sell-side analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 12,200 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $21.00, for a total value of $256,200.00. Following the transaction, the general counsel directly owned 105,155 shares of the company’s stock, valued at approximately $2,208,255. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 5,477 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $20.44, for a total value of $111,949.88. Following the sale, the insider owned 108,224 shares in the company, valued at approximately $2,212,098.56. This represents a 4.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 517,000 shares of company stock valued at $10,925,150 and have sold 23,152 shares valued at $480,059. 8.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GameStop has an average rating of “Reduce” and a consensus price target of $13.50.

About GameStop

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.