Virtu Financial LLC Purchases Shares of 12,430 GameStop Corp. (NYSE:GME)

Virtu Financial LLC acquired a new position in shares of GameStop Corp. (NYSE:GME) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,430 shares of the company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GME. Charles Schwab Investment Management Inc. increased its stake in GameStop by 22.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after acquiring an additional 646,488 shares during the last quarter. Algert Global LLC boosted its holdings in shares of GameStop by 270.5% in the 3rd quarter. Algert Global LLC now owns 150,526 shares of the company’s stock worth $3,452,000 after purchasing an additional 109,900 shares during the period. Swiss National Bank increased its position in shares of GameStop by 46.0% during the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after purchasing an additional 249,100 shares during the last quarter. MetLife Investment Management LLC raised its holdings in GameStop by 41.1% during the 3rd quarter. MetLife Investment Management LLC now owns 200,234 shares of the company’s stock valued at $4,591,000 after buying an additional 58,356 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in GameStop by 35.9% in the third quarter. Mutual of America Capital Management LLC now owns 209,616 shares of the company’s stock worth $4,806,000 after buying an additional 55,346 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Stock Performance

Shares of GME stock opened at $31.29 on Wednesday. The stock has a 50 day moving average price of $25.34 and a 200 day moving average price of $24.31. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The firm has a market capitalization of $13.98 billion, a P/E ratio of 173.83 and a beta of -0.11.

GameStop (NYSE:GME) last released its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 1,972 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the transaction, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. This represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the completion of the sale, the general counsel now owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $481,000 in the last three months. Company insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GME. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush reiterated an “underperform” rating and set a $10.00 price target on shares of GameStop in a report on Friday, December 6th.

About GameStop

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.