Teachers Retirement System of The State of Kentucky Acquires 39,386 Shares of GameStop Corp. (NYSE:GME)

Teachers Retirement System of The State of Kentucky grew its position in GameStop Corp. (NYSE:GME - Free Report) by 50.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,484 shares of the company's stock after purchasing an additional 39,386 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in GameStop were worth $2,622,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in shares of GameStop by 10.7% during the 1st quarter. New York State Teachers Retirement System now owns 311,864 shares of the company's stock valued at $6,961,000 after acquiring an additional 30,200 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of GameStop during the 1st quarter valued at $465,000. Slate Path Capital LP acquired a new position in shares of GameStop during the 4th quarter valued at $60,361,000. Invesco Ltd. lifted 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 acquiring an additional 33,596 shares during the period. Finally, California State Teachers Retirement System raised its holdings in GameStop by 3.6% during the fourth 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. Institutional investors and hedge funds own 29.21% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wedbush upgraded shares of GameStop to a "strong sell" rating in a report on Tuesday, July 1st.

GameStop Stock Down 1.0%

GME traded down $0.23 during trading on Friday, hitting $23.30. 7,058,391 shares of the company's stock were exchanged, compared to its average volume of 8,816,855. The company has a quick ratio of 7.89, a current ratio of 8.39 and a debt-to-equity ratio of 0.30. The business's 50 day moving average is $25.89 and its two-hundred day moving average is $25.95. GameStop Corp. has a fifty-two week low of $18.73 and a fifty-two week high of $35.81. The stock has a market cap of $10.42 billion, a P/E ratio of 50.65 and a beta of -0.81.

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

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the completion of the transaction, the general counsel owned 116,781 shares in the company, valued at approximately $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 13,075 shares of company stock worth $315,685 in the last three months. 12.28% of the stock is currently owned by corporate insiders.

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.