Scratch Capital LLC Takes Position in GameStop Corp. (NYSE:GME)

Scratch Capital LLC bought a new stake in GameStop Corp. (NYSE:GME) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 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 position.

Several other hedge funds also recently modified their holdings of GME. New Wave Wealth Advisors LLC bought a new stake in GameStop in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new stake in GameStop in the fourth quarter valued at approximately $51,000. UMB Bank n.a. increased its stake in 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in GameStop in the fourth quarter valued at approximately $99,000. Finally, GAMMA Investing LLC increased its stake in 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 in the last quarter. Institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

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

GameStop Stock Down 2.6 %

Shares of GME stock opened at $24.40 on Tuesday. The firm has a fifty day moving average of $28.15 and a 200-day moving average of $25.50. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 135.56 and a beta of -0.11.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Buying and Selling

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