Cerity Partners LLC Acquires Shares of 62,812 GameStop Corp. (NYSE:GME)

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

A number of other large investors also recently modified their holdings of the company. New York State Teachers Retirement System increased its stake in 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 during the period. Exchange Traded Concepts LLC purchased a new position in GameStop in the 1st quarter worth approximately $465,000. Slate Path Capital LP purchased a new position in GameStop in the 4th quarter worth approximately $60,361,000. Invesco Ltd. increased its stake in GameStop by 6.1% in the 4th quarter. Invesco Ltd. now owns 585,757 shares of the company's stock worth $18,358,000 after purchasing an additional 33,596 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of 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 last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total transaction of $267,309.90. Following the sale, the general counsel directly owned 116,781 shares in the company, valued at $2,823,764.58. The trade was a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 13,075 shares of company stock worth $315,685 in the last 90 days. Insiders own 12.28% of the company's stock.

GameStop Trading Down 1.0%

Shares of GME stock traded down $0.23 during trading hours on Friday, reaching $23.30. The company's stock had a trading volume of 7,058,391 shares, compared to its average volume of 8,816,855. The company has a current ratio of 8.39, a quick ratio of 7.89 and a debt-to-equity ratio of 0.30. GameStop Corp. has a one year low of $18.73 and a one year high of $35.81. The stock has a market capitalization of $10.42 billion, a P/E ratio of 50.65 and a beta of -0.81. The firm's fifty day simple moving average is $25.89 and its 200 day simple moving average is $26.00.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating 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 company had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. During the same period in the previous year, the company posted ($0.12) earnings per share. The firm's revenue was down 16.9% on a year-over-year basis. Equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

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.