Cerity Partners LLC Makes New Investment in GameStop Corp. (NYSE:GME)

Cerity Partners LLC bought a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 62,812 shares of the company's stock, valued at approximately $1,402,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System boosted its holdings in shares of GameStop by 10.7% in the 1st quarter. New York State Teachers Retirement System now owns 311,864 shares of the company's stock worth $6,961,000 after purchasing an additional 30,200 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in GameStop during the 1st quarter valued at about $465,000. Slate Path Capital LP purchased a new stake in GameStop during the 4th quarter valued at about $60,361,000. Invesco Ltd. boosted its holdings in GameStop by 6.1% during the 4th quarter. Invesco Ltd. now owns 585,757 shares of the company's stock valued at $18,358,000 after acquiring an additional 33,596 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in GameStop by 3.6% in the 4th quarter. California State Teachers Retirement System now owns 394,588 shares of the company's stock worth $12,366,000 after buying an additional 13,576 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 1,269 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $23.95, for a total transaction of $30,392.55. Following the completion of the transaction, the general counsel owned 127,836 shares of the company's stock, valued at $3,061,672.20. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.28% of the stock is currently owned by company insiders.

GameStop Stock Down 0.3%

Shares of NYSE:GME traded down $0.08 during trading on Friday, hitting $23.46. The stock had a trading volume of 929,949 shares, compared to its average volume of 11,587,539. GameStop Corp. has a 12 month low of $18.73 and a 12 month high of $35.81. The company has a market capitalization of $10.49 billion, a PE ratio of 50.99 and a beta of -0.81. The firm's fifty day moving average is $25.99 and its 200 day moving average is $26.07. The company has a quick ratio of 7.89, a current ratio of 8.39 and a debt-to-equity ratio of 0.30.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The firm had revenue of $732.40 million during the quarter, compared to analyst estimates of $754.23 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The business's revenue was down 16.9% compared to the same quarter last year. Analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wedbush upgraded GameStop to a "strong sell" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

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.