65,000 Shares in GameStop Corp. (NYSE:GME) Bought by Soviero Asset Management LP

Soviero Asset Management LP acquired a new position in shares of GameStop Corp. (NYSE:GME) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 65,000 shares of the company’s stock, valued at approximately $2,037,000.

Several other large investors have also recently added to or reduced their stakes in GME. Joule Financial LLC bought a new position in GameStop during the fourth quarter worth $229,000. UMB Bank n.a. increased its position in GameStop by 59.9% in the fourth 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 period. Crossmark Global Holdings Inc. increased its position in GameStop by 2.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock worth $575,000 after buying an additional 523 shares during the period. Nisa Investment Advisors LLC increased its position in GameStop by 133.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,482 shares of the company’s stock worth $266,000 after buying an additional 4,842 shares during the period. Finally, Fifth Third Bancorp increased its position in GameStop by 11.1% in the fourth quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock worth $177,000 after buying an additional 566 shares during the period. 29.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the sale, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. This trade represents a 5.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alain Attal acquired 10,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were acquired at an average price of $25.75 per share, with a total value of $257,500.00. Following the completion of the transaction, the director now directly owns 572,464 shares in the company, valued at approximately $14,740,948. This trade represents a 1.78% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 515,000 shares of company stock worth $11,140,200. 12.28% of the stock is currently owned by company insiders.

GameStop Stock Down 0.7%

NYSE:GME opened at $28.43 on Monday. GameStop Corp. has a 1-year low of $17.70 and a 1-year high of $48.00. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 157.98 and a beta of -0.76. The stock has a fifty day simple moving average of $25.52 and a 200 day simple moving average of $26.91.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company posted $0.21 EPS. GameStop’s revenue for the quarter was down 28.5% on a year-over-year basis. Equities analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.