Machina Capital S.A.S. Makes New Investment in GameStop Corp. (NYSE:GME)

Posted by Defense World Staff on Jul 12th, 2023

Machina Capital S.A.S. bought a new position in shares of GameStop Corp. (NYSE:GME – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $46,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of GameStop by 304.8% in the third quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock valued at $607,235,000 after purchasing an additional 18,193,982 shares during the last quarter. State Street Corp grew its position in shares of GameStop by 307.5% in the third quarter. State Street Corp now owns 6,928,945 shares of the company’s stock valued at $174,124,000 after purchasing an additional 5,228,654 shares during the last quarter. Geode Capital Management LLC grew its position in shares of GameStop by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 3,495,649 shares of the company’s stock valued at $64,529,000 after purchasing an additional 176,876 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of GameStop by 301.4% in the third quarter. Bank of New York Mellon Corp now owns 2,190,263 shares of the company’s stock valued at $55,042,000 after purchasing an additional 1,644,587 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of GameStop by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,954,302 shares of the company’s stock valued at $36,076,000 after purchasing an additional 104,157 shares during the last quarter. 25.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GME. StockNews.com cut shares of GameStop from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Wedbush reduced their target price on shares of GameStop from $6.50 to $6.20 and set an “underperform” rating for the company in a research note on Thursday, June 8th.

Insider Activity at GameStop

In related news, Director Alain Attal purchased 10,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was acquired at an average price of $22.40 per share, with a total value of $224,000.00. Following the completion of the acquisition, the director now directly owns 538,692 shares in the company, valued at approximately $12,066,700.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Alain Attal purchased 10,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was acquired at an average price of $22.40 per share, with a total value of $224,000.00. Following the completion of the acquisition, the director now directly owns 538,692 shares in the company, valued at approximately $12,066,700.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ryan Cohen bought 443,842 shares of the stock in a transaction on Friday, June 9th. The shares were acquired at an average cost of $22.53 per share, with a total value of $9,999,760.26. Following the acquisition, the chairman now directly owns 36,847,842 shares in the company, valued at approximately $830,181,880.26. The disclosure for this purchase can be found here. Insiders sold a total of 132,990 shares of company stock valued at $3,010,604 over the last quarter. Corporate insiders own 12.64% of the company’s stock.

GameStop Stock Up 1.6 %

NYSE GME opened at $23.92 on Wednesday. The stock has a market cap of $7.29 billion, a PE ratio of -35.17 and a beta of -0.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.13 and a current ratio of 1.71. GameStop Corp. has a twelve month low of $15.41 and a twelve month high of $47.99. The firm has a 50-day simple moving average of $23.32 and a 200 day simple moving average of $21.25.

GameStop (NYSE:GME – Get Free Report) last announced its quarterly earnings results on Wednesday, June 7th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. GameStop had a negative net margin of 3.56% and a negative return on equity of 14.97%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned ($0.52) earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts forecast that GameStop Corp. will post -0.39 EPS for the current year.

About GameStop

(Free Report)

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.