Clear Street Group Inc. Decreases Stock Holdings in GameStop Corp. $GME

Clear Street Group Inc. trimmed its position in shares of GameStop Corp. (NYSE:GME) by 23.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 846,457 shares of the company’s stock after selling 252,200 shares during the quarter. Clear Street Group Inc. owned about 0.19% of GameStop worth $16,997,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GME. Northwestern Mutual Wealth Management Co. lifted its position in shares of GameStop by 308.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after buying an additional 732 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after buying an additional 886 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of GameStop during the third quarter valued at about $39,000. Los Angeles Capital Management LLC purchased a new stake in shares of GameStop during the fourth quarter valued at about $39,000. Finally, Bessemer Group Inc. lifted its position in shares of GameStop by 39.2% during the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock valued at $46,000 after buying an additional 471 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel William Moore sold 7,210 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the transaction, the insider owned 101,014 shares in the company, valued at $2,317,261.16. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 7,209 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,374.46. Following the transaction, the general counsel owned 97,946 shares in the company, valued at approximately $2,246,881.24. This trade represents a 6.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,331 shares of company stock worth $421,491. Corporate insiders own 9.50% of the company’s stock.

GameStop Stock Performance

GME opened at $21.75 on Friday. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $28.10. The company has a quick ratio of 14.68, a current ratio of 15.30 and a debt-to-equity ratio of 0.76. The company has a market cap of $9.76 billion, a P/E ratio of 16.47 and a beta of 1.77. The firm’s 50-day moving average price is $23.13 and its 200-day moving average price is $22.90.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. GameStop had a net margin of 20.45% and a return on equity of 14.10%. The firm had revenue of $835.30 million for the quarter, compared to the consensus estimate of $766.64 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GameStop presently has a consensus rating of “Reduce”.

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.