GameStop Corp. $GME Shares Sold by Clear Street Group Inc.

Clear Street Group Inc. lessened its holdings in GameStop Corp. (NYSE:GME) by 23.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 846,457 shares of the company’s stock after selling 252,200 shares during the period. Clear Street Group Inc.’s holdings in GameStop were worth $16,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GME. Van ECK Associates Corp increased its holdings in GameStop by 58.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock worth $84,528,000 after buying an additional 1,141,215 shares during the period. BNP Paribas Financial Markets increased its holdings in GameStop by 233.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 355,998 shares of the company’s stock worth $8,683,000 after buying an additional 249,262 shares during the period. Marex Group plc increased its holdings in GameStop by 31.6% in the 4th quarter. Marex Group plc now owns 1,015,478 shares of the company’s stock worth $20,391,000 after buying an additional 243,937 shares during the period. Invesco Ltd. increased its holdings in GameStop by 5.5% in the 3rd quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock worth $110,990,000 after buying an additional 210,523 shares during the period. Finally, Jefferies Financial Group Inc. increased its holdings in GameStop by 161.5% in the 3rd quarter. Jefferies Financial Group Inc. now owns 63,216 shares of the company’s stock worth $1,725,000 after buying an additional 165,979 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 3,912 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $23.19, for a total transaction of $90,719.28. Following the sale, the general counsel owned 115,230 shares of the company’s stock, valued at $2,672,183.70. This trade represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,210 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,397.40. Following the transaction, the insider owned 101,014 shares in the company, valued at $2,317,261.16. This trade represents a 6.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,331 shares of company stock worth $421,491 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

GME has been the topic of several research reports. Weiss Ratings upgraded shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wall Street Zen raised shares of GameStop from a “hold” rating to a “buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

GameStop Price Performance

Shares of NYSE GME opened at $21.75 on Friday. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 16.47 and a beta of 1.77. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $28.10. The firm’s 50 day simple moving average is $23.13 and its 200-day simple moving average is $22.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 15.30 and a quick ratio of 14.68.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. The business had revenue of $835.30 million for the quarter, compared to analysts’ expectations of $766.64 million. GameStop had a net margin of 20.45% and a return on equity of 14.10%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS.

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.