Entropy Technologies LP Takes $905,000 Position in GameStop Corp. $GME

Entropy Technologies LP purchased a new position in GameStop Corp. (NYSE:GME) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,298 shares of the company’s stock, valued at approximately $905,000.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in GameStop by 376.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock worth $61,063,000 after acquiring an additional 2,093,755 shares during the period. Inceptionr LLC purchased a new stake in GameStop in the 1st quarter worth approximately $743,000. Lido Advisors LLC bought a new position in GameStop in the 1st quarter valued at $210,000. Militia Capital Management LLC bought a new position in GameStop in the 1st quarter valued at $492,000. Finally, First Trust Advisors LP grew its position in shares of GameStop by 412.7% during the 1st quarter. First Trust Advisors LP now owns 208,650 shares of the company’s stock valued at $4,807,000 after purchasing an additional 167,956 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Stock Up 3.1%

GME stock opened at $22.19 on Wednesday. The company’s 50 day moving average is $21.86 and its 200 day moving average is $22.92. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 16.81 and a beta of 1.76. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. GameStop Corp. has a 1-year low of $19.93 and a 1-year high of $28.10.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The business had revenue of $835.30 million during the quarter, compared to analyst estimates of $766.63 million. During the same period in the previous year, the business posted $0.17 earnings per share. GameStop’s revenue for the quarter was up 14.0% on a year-over-year basis.

Analysts Set New Price Targets

GME has been the topic of several research analyst reports. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wall Street Zen raised GameStop from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, GameStop presently has an average rating of “Hold”.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 7,085 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total transaction of $158,562.30. Following the sale, the insider owned 115,125 shares in the company, valued at approximately $2,576,497.50. This trade represents a 5.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 3,957 shares of GameStop stock in a transaction on Monday, July 6th. The stock was sold at an average price of $22.62, for a total transaction of $89,507.34. Following the sale, the general counsel directly owned 104,190 shares of the company’s stock, valued at $2,356,777.80. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 18,125 shares of company stock worth $406,587. Corporate insiders own 9.50% of the company’s stock.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.