Inceptionr LLC Makes New $743,000 Investment in GameStop Corp. $GME

Inceptionr LLC bought a new stake in GameStop Corp. (NYSE:GME) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,243 shares of the company’s stock, valued at approximately $743,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock worth $26,000 after acquiring an additional 732 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after purchasing an additional 886 shares during the period. Advisory Services Network LLC purchased a new stake in shares of GameStop in the third quarter valued at about $39,000. Los Angeles Capital Management LLC purchased a new stake in shares of GameStop in the fourth quarter valued at about $39,000. Finally, Rockefeller Capital Management L.P. increased its position in GameStop by 805.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock worth $45,000 after purchasing an additional 2,014 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on GME. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research note 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, June 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Insider Transactions at GameStop

In other GameStop news, insider Daniel William Moore sold 7,085 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total transaction of $158,562.30. Following the sale, the insider directly owned 115,125 shares in the company, valued at $2,576,497.50. This represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 3,957 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $22.62, for a total transaction of $89,507.34. Following the sale, the general counsel directly owned 104,190 shares in the company, valued at $2,356,777.80. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,125 shares of company stock worth $406,587 over the last quarter. Insiders own 9.50% of the company’s stock.

GameStop Trading Down 0.8%

Shares of NYSE GME opened at $21.17 on Friday. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $9.50 billion, a PE ratio of 16.04 and a beta of 1.76. GameStop Corp. has a twelve month low of $19.93 and a twelve month high of $28.10. The stock has a fifty day simple moving average of $21.87 and a 200-day simple moving average of $22.89.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The firm had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. During the same quarter in the prior year, the company earned $0.17 EPS. GameStop’s revenue was up 14.0% on a year-over-year basis.

GameStop Profile

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.