Brave Asset Management Inc. acquired a new position in shares of GameStop Corp. (NYSE:GME) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,500 shares of the company’s stock, valued at approximately $113,000.
A number of other institutional investors have also recently added to or reduced their stakes in GME. Renaissance Technologies LLC boosted its stake in GameStop by 905.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,127,146 shares of the company’s stock worth $28,045,000 after acquiring an additional 4,617,446 shares during the last quarter. Aristeia Capital LLC bought a new position in GameStop during the 2nd quarter worth approximately $16,116,000. 3G Capital Partners LP bought a new position in GameStop during the 2nd quarter worth approximately $13,955,000. Alpine Associates Management Inc. bought a new position in GameStop in the second quarter valued at approximately $13,183,000. Finally, Quinn Opportunity Partners LLC lifted its stake in GameStop by 1,848.9% in the second quarter. Quinn Opportunity Partners LLC now owns 2,449,719 shares of the company’s stock valued at $13,400,000 after buying an additional 2,324,024 shares in the last quarter.
Shares of GME opened at $6.42 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 1.37. GameStop Corp. has a twelve month low of $3.15 and a twelve month high of $16.90. The firm has a market cap of $581.64 million, a P/E ratio of 3.44 and a beta of 0.42. The firm’s 50 day moving average price is $5.15 and its two-hundred day moving average price is $5.89.
In other GameStop news, Director Carrie W. Teffner acquired 21,118 shares of the stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $99,888.14. Following the completion of the acquisition, the director now directly owns 55,469 shares of the company’s stock, valued at $262,368.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lizabeth Dunn acquired 5,000 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average price of $5.38 per share, for a total transaction of $26,900.00. Following the completion of the acquisition, the director now directly owns 32,969 shares of the company’s stock, valued at $177,373.22. The disclosure for this purchase can be found here. Insiders bought 36,268 shares of company stock worth $175,886 over the last quarter. 2.40% of the stock is owned by corporate insiders.
A number of brokerages have weighed in on GME. ValuEngine raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Bank of America cut their price target on shares of GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a research note on Tuesday, August 20th. Benchmark cut their price target on shares of GameStop from $5.00 to $3.00 and set a “sell” rating on the stock in a research note on Wednesday, September 11th. They noted that the move was a valuation call. Loop Capital set a $4.00 price target on shares of GameStop and gave the company a “hold” rating in a research note on Thursday, September 12th. Finally, Wedbush cut their price target on shares of GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.35.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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