D. E. Shaw & Co. Inc. Grows Position in GameStop Corp. (NYSE:GME)

D. E. Shaw & Co. Inc. lifted its position in GameStop Corp. (NYSE:GME) by 606.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,650,750 shares of the company’s stock after purchasing an additional 1,417,156 shares during the period. D. E. Shaw & Co. Inc. owned about 0.37% of GameStop worth $51,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GME. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after purchasing an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of GameStop in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new position in shares of GameStop during the 4th quarter worth approximately $51,000. Bessemer Group Inc. boosted its holdings in GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of GameStop by 59.9% during the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after buying an additional 682 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush set a $11.50 target price on shares of GameStop in a research note on Wednesday, March 26th.

Insider Transactions at GameStop

In other news, CEO Ryan Cohen purchased 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,347,842 shares of the company’s stock, valued at $804,845,995.10. The trade was a 1.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alain Attal acquired 10,000 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was purchased at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the transaction, the director now owns 572,464 shares in the company, valued at approximately $14,740,948. The trade was a 1.78 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is currently owned by company insiders.

GameStop Stock Up 2.8 %

GME opened at $27.53 on Friday. The firm has a market cap of $12.31 billion, a P/E ratio of 152.95 and a beta of -0.76. GameStop Corp. has a 52 week low of $16.88 and a 52 week high of $64.83. The business has a fifty day simple moving average of $25.05 and a 200-day simple moving average of $26.61.

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

GameStop 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.