California State Teachers Retirement System Boosts Stock Position in GameStop Corp. (NYSE:GME)

California State Teachers Retirement System grew its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 394,588 shares of the company's stock after acquiring an additional 13,576 shares during the quarter. California State Teachers Retirement System owned 0.09% of GameStop worth $12,366,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock worth $1,226,775,000 after buying an additional 2,036,032 shares in the last quarter. Slate Path Capital LP bought a new stake in GameStop in the fourth quarter worth approximately $60,361,000. D. E. Shaw & Co. Inc. boosted its position in shares of GameStop by 606.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company's stock worth $51,735,000 after purchasing an additional 1,417,156 shares in the last quarter. Northern Trust Corp boosted its holdings in GameStop by 26.2% in the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock worth $99,389,000 after acquiring an additional 659,345 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in GameStop by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock valued at $208,769,000 after purchasing an additional 380,554 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on GME. Wall Street Zen raised shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price objective on GameStop in a research note on Wednesday, March 26th.

GameStop Price Performance

Shares of NYSE GME traded down $0.56 during trading on Tuesday, hitting $30.09. The stock had a trading volume of 6,008,060 shares, compared to its average volume of 16,425,036. The firm has a fifty day moving average of $26.98 and a two-hundred day moving average of $27.36. GameStop Corp. has a 12 month low of $18.73 and a 12 month high of $48.00. The company has a market capitalization of $13.46 billion, a PE ratio of 167.15 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company's quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. On average, equities analysts expect that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan Cohen purchased 500,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the purchase, the chief executive officer now owns 37,347,842 shares of the company's stock, valued at $804,845,995.10. The trade was a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the sale, the insider now directly owns 29,777 shares of the company's stock, valued at approximately $670,875.81. This trade represents a 5.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 515,000 shares of company stock valued at $11,140,200. Insiders own 12.28% of the company's stock.

GameStop Company 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.