1,098,657 Shares in GameStop Corp. $GME Bought by Clear Street Group Inc.

Clear Street Group Inc. acquired a new position in GameStop Corp. (NYSE:GME) during the third quarter, Holdings Channel.com reports. The firm acquired 1,098,657 shares of the company’s stock, valued at approximately $29,971,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City Holding Co. acquired a new stake in shares of GameStop during the third quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after acquiring an additional 886 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of GameStop by 39.2% in the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock worth $46,000 after acquiring an additional 471 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in GameStop by 83.2% in the third quarter. Jones Financial Companies Lllp now owns 3,036 shares of the company’s stock valued at $80,000 after purchasing an additional 1,379 shares during the last quarter. Finally, CI Investments Inc. boosted its holdings in GameStop by 32.4% in the third quarter. CI Investments Inc. now owns 3,448 shares of the company’s stock valued at $94,000 after purchasing an additional 844 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Trading Down 3.7%

NYSE GME opened at $23.52 on Friday. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $35.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.39 and a quick ratio of 9.77. 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’s fifty day moving average price is $23.29 and its two-hundred day moving average price is $23.10.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 12,200 shares of GameStop stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $21.00, for a total value of $256,200.00. Following the completion of the transaction, the general counsel directly owned 105,155 shares in the company, valued at approximately $2,208,255. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alain Attal acquired 12,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was purchased at an average cost of $20.90 per share, with a total value of $250,800.00. Following the completion of the acquisition, the director owned 596,464 shares of the company’s stock, valued at $12,466,097.60. The trade was a 2.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 517,000 shares of company stock worth $10,925,150 and have sold 23,152 shares worth $480,059. Company insiders own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

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

GameStop Company 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.