Scratch Capital LLC Purchases Shares of 22,820 GameStop Corp. (NYSE:GME)

Scratch Capital LLC purchased a new stake in GameStop Corp. (NYSE:GME) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 22,820 shares of the company’s stock, valued at approximately $715,000. GameStop comprises about 0.9% of Scratch Capital LLC’s investment portfolio, making the stock its 20th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of GameStop in the fourth quarter valued at about $37,000. R Squared Ltd bought a new position in shares of GameStop in the fourth quarter valued at about $51,000. UMB Bank n.a. raised its position in shares of GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of GameStop in the fourth quarter valued at about $99,000. Finally, GAMMA Investing LLC raised its position in shares of GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after purchasing an additional 1,414 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the sale, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares in the company, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

GameStop Stock Performance

NYSE:GME opened at $24.40 on Tuesday. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 135.56 and a beta of -0.11. The firm’s 50-day simple moving average is $28.15 and its 200 day simple moving average is $25.50.

GameStop (NYSE:GME) last released its earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $860.30 million for the quarter, compared to analyst estimates of $887.68 million. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. Sell-side analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an “underperform” rating and set a $10.00 price target on shares of GameStop in a research report on Friday, December 6th.

GameStop Profile

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.