Bessemer Group Inc. Buys 691 Shares of GameStop Corp. (NYSE:GME)

Bessemer Group Inc. boosted its stake in GameStop Corp. (NYSE:GME) by 67.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,720 shares of the company’s stock after buying an additional 691 shares during the period. Bessemer Group Inc.’s holdings in GameStop were worth $54,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GME. Charles Schwab Investment Management Inc. increased its stake in shares of GameStop by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after buying an additional 107,354 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of GameStop in the fourth quarter valued at about $878,000. Retirement Systems of Alabama increased its position in shares of GameStop by 41.7% in the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock valued at $10,804,000 after acquiring an additional 138,597 shares during the period. Bank of New York Mellon Corp raised its stake in shares of GameStop by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock valued at $80,401,000 after acquiring an additional 60,673 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of GameStop by 5.5% during the fourth quarter. Swiss National Bank now owns 834,228 shares of the company’s stock worth $26,145,000 after purchasing an additional 43,700 shares during the period. Institutional investors own 29.21% of the company’s stock.

Insider Buying and Selling

In other GameStop news, Director Alain Attal bought 10,000 shares of GameStop stock in a transaction dated Thursday, April 10th. The shares were purchased at an average cost of $25.75 per share, with a total value of $257,500.00. Following the transaction, the director now directly owns 572,464 shares of the company’s stock, valued at $14,740,948. This represents a 1.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Cohen acquired 500,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the purchase, the chief executive officer now directly owns 37,347,842 shares of the company’s stock, valued at $804,845,995.10. This represents a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 515,000 shares of company stock valued at $11,140,200 over the last ninety days. Company insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

GameStop Trading Up 2.1 %

Shares of GME opened at $26.81 on Friday. GameStop Corp. has a 1-year low of $10.01 and a 1-year high of $64.83. The firm’s 50-day moving average price is $24.61 and its 200-day moving average price is $25.95. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 148.95 and a beta of -0.44.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. On average, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

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.