BLKBRD Asset Management LP Sells 178,153 Shares of GameStop Corp. $GME

BLKBRD Asset Management LP lessened its holdings in shares of GameStop Corp. (NYSE:GME) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,016 shares of the company’s stock after selling 178,153 shares during the quarter. GameStop comprises 4.1% of BLKBRD Asset Management LP’s investment portfolio, making the stock its 17th largest position. BLKBRD Asset Management LP’s holdings in GameStop were worth $3,032,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. State Street Corp boosted its position in shares of GameStop by 0.8% during the 4th quarter. State Street Corp now owns 12,469,631 shares of the company’s stock valued at $250,390,000 after acquiring an additional 96,802 shares during the last quarter. Geode Capital Management LLC lifted its position in GameStop by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company’s stock worth $147,431,000 after buying an additional 92,996 shares during the last quarter. Invesco Ltd. lifted its position 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 last quarter. Northern Trust Corp lifted its position in GameStop by 1.1% in the 3rd quarter. Northern Trust Corp now owns 3,250,275 shares of the company’s stock worth $88,668,000 after buying an additional 35,275 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position 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 last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

NYSE:GME opened at $21.42 on Wednesday. The business has a 50 day moving average of $23.06 and a 200 day moving average of $22.92. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 16.23 and a beta of 1.78. GameStop Corp. has a 1-year low of $19.93 and a 1-year high of $28.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91.

GameStop (NYSE:GME) last released its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. The company had revenue of $835.30 million during the quarter, compared to the consensus estimate of $766.64 million. GameStop had a return on equity of 13.75% and a net margin of 20.45%.GameStop’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Wall Street Analyst Weigh In

GME has been the subject of a number of recent research reports. Wall Street Zen upgraded GameStop from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings upgraded GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GameStop currently has an average rating of “Reduce”.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 7,210 shares of GameStop stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total value of $165,397.40. Following the transaction, the insider directly owned 101,014 shares of the company’s stock, valued at $2,317,261.16. The trade was a 6.66% decrease in their position. 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 7,209 shares of GameStop stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total value of $165,374.46. Following the completion of the transaction, the general counsel directly owned 97,946 shares in the company, valued at $2,246,881.24. This trade represents a 6.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,331 shares of company stock worth $421,491 over the last ninety days. Insiders own 9.50% of the company’s stock.

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.