Inceptionr LLC Invests $743,000 in GameStop Corp. $GME

Inceptionr LLC acquired a new stake in GameStop Corp. (NYSE:GME) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 32,243 shares of the company’s stock, valued at approximately $743,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GME. Northwestern Mutual Investment Management Company LLC grew its stake in GameStop by 0.5% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 92,197 shares of the company’s stock worth $1,851,000 after purchasing an additional 463 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in GameStop by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 131,002 shares of the company’s stock valued at $3,574,000 after purchasing an additional 578 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of GameStop by 4.5% in the 4th quarter. Panagora Asset Management Inc. now owns 13,692 shares of the company’s stock valued at $275,000 after buying an additional 594 shares during the period. UMB Bank n.a. boosted its stake in shares of GameStop by 14.5% in the 4th quarter. UMB Bank n.a. now owns 4,694 shares of the company’s stock valued at $94,000 after buying an additional 595 shares during the period. Finally, Rakuten Securities Inc. grew its position in shares of GameStop by 9.4% during the second quarter. Rakuten Securities Inc. now owns 7,572 shares of the company’s stock worth $185,000 after buying an additional 650 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on GME. Wall Street Zen raised shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Weiss Ratings upgraded shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 7,083 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,517.54. Following the completion of the sale, the general counsel directly owned 108,147 shares of the company’s stock, valued at approximately $2,420,329.86. The trade was a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,562.30. Following the completion of the sale, the insider directly owned 115,125 shares of the company’s stock, valued at $2,576,497.50. The trade was a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,125 shares of company stock worth $406,587. Corporate insiders own 9.50% of the company’s stock.

GameStop Trading Down 0.8%

NYSE GME opened at $21.17 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. The firm’s fifty day moving average price is $21.87 and its 200 day moving average price is $22.89. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 16.04 and a beta of 1.76. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $28.10.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, topping 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 firm had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. During the same period last year, the business earned $0.17 EPS. GameStop’s revenue for the quarter was up 14.0% compared to the same quarter last year.

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.