Penserra Capital Management LLC Grows Holdings in GameStop Corp. (NYSE:GME)

Penserra Capital Management LLC raised its holdings in GameStop Corp. (NYSE:GME) by 110.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 47,118 shares of the company’s stock after acquiring an additional 24,761 shares during the period. Penserra Capital Management LLC’s holdings in GameStop were worth $1,080,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GME. Charles Schwab Investment Management Inc. increased its stake in GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after purchasing an additional 646,488 shares during the last quarter. Van ECK Associates Corp grew its holdings in GameStop by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock valued at $41,866,000 after buying an additional 136,785 shares during the period. Renaissance Technologies LLC increased its stake in shares of GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after acquiring an additional 342,178 shares during the last quarter. Swiss National Bank lifted its holdings in shares of GameStop by 46.0% during the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock worth $18,127,000 after acquiring an additional 249,100 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in GameStop in the second quarter valued at approximately $9,577,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

GME opened at $30.34 on Wednesday. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The firm has a 50 day moving average price of $23.17 and a 200 day moving average price of $23.96. The company has a market cap of $12.94 billion, a PE ratio of 233.35 and a beta of -0.13.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, sell-side analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

GME has been the topic of a number of recent analyst reports. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush cut their target price on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 11th.

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction on 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 directly owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the sale, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock valued at $481,000 over the last three months. 12.28% of the stock is owned by company insiders.

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.