Algert Global LLC Acquires 109,900 Shares of GameStop Corp. (NYSE:GME)

Algert Global LLC lifted its stake in GameStop Corp. (NYSE:GME) by 270.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,526 shares of the company’s stock after acquiring an additional 109,900 shares during the period. Algert Global LLC’s holdings in GameStop were worth $3,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after purchasing an additional 646,488 shares during the last quarter. Van ECK Associates Corp grew its position in GameStop by 8.1% during the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock worth $41,866,000 after buying an additional 136,785 shares in the last quarter. Renaissance Technologies LLC increased its stake in GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after acquiring an additional 342,178 shares during the period. Swiss National Bank raised its holdings in GameStop by 46.0% in the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after acquiring an additional 249,100 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of GameStop in the 2nd quarter worth approximately $9,577,000. Institutional investors own 29.21% of the company’s stock.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the transaction, the insider now owns 37,280 shares in the company, valued at approximately $818,668.80. The trade was a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the completion of the sale, the general counsel now owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock worth $481,000 in the last quarter. 12.28% of the stock is owned by corporate insiders.

GameStop Trading Up 6.4 %

NYSE GME opened at $29.68 on Tuesday. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 228.33 and a beta of -0.13. The stock’s 50 day moving average is $22.97 and its two-hundred day moving average is $23.87.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. GameStop’s quarterly revenue was down 31.4% on a year-over-year basis. On average, analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GME shares. Wedbush lowered their price objective on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Saturday, October 19th.

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.