New York State Teachers Retirement System grew its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 311,864 shares of the company's stock after purchasing an additional 30,200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of GameStop worth $6,961,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company's stock valued at $113,146,000 after purchasing an additional 107,354 shares during the last quarter. Swiss National Bank increased its position in shares of GameStop by 5.5% during the 4th quarter. Swiss National Bank now owns 834,228 shares of the company's stock valued at $26,145,000 after purchasing an additional 43,700 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of GameStop during the 1st quarter valued at about $465,000. Slate Path Capital LP purchased a new stake in shares of GameStop during the 4th quarter valued at about $60,361,000. Finally, Invesco Ltd. increased its position in shares of 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 purchasing an additional 33,596 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company's stock.
Analyst Upgrades and Downgrades
GME has been the subject of several research reports. Wedbush raised shares of GameStop to a "strong sell" rating in a research report on Tuesday, July 1st. Wall Street Zen raised shares of GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.
View Our Latest Research Report on GameStop
Insider Activity at GameStop
In other GameStop news, General Counsel Mark Haymond Robinson sold 1,269 shares of the company'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 value of $30,392.55. Following the completion of the transaction, the general counsel directly owned 127,836 shares in the company, valued at $3,061,672.20. This represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alain Attal purchased 10,000 shares of the company's stock in a transaction on Thursday, April 10th. The stock was acquired at an average price of $25.75 per share, with a total value of $257,500.00. Following the completion of the purchase, the director directly owned 572,464 shares in the company, valued at $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.28% of the company's stock.
GameStop Stock Performance
GameStop stock traded up $0.43 during midday trading on Wednesday, hitting $23.18. The stock had a trading volume of 14,558,460 shares, compared to its average volume of 11,289,651. The firm's fifty day moving average is $26.83 and its two-hundred day moving average is $26.68. The company has a market capitalization of $10.37 billion, a PE ratio of 50.39 and a beta of -0.81. GameStop Corp. has a 52-week low of $18.73 and a 52-week high of $35.81. 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 (NYSE:GME - Get Free Report) last released 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. The company had revenue of $732.40 million during the quarter, compared to analyst estimates of $754.23 million. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The firm's quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) EPS. On average, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.
GameStop Company Profile
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Free Report)
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.
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