Teacher Retirement System of Texas Increases Position in GameStop Corp. (NYSE:GME)

Teacher Retirement System of Texas increased its position in GameStop Corp. (NYSE:GME - Free Report) by 169.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,897 shares of the company's stock after buying an additional 39,541 shares during the quarter. Teacher Retirement System of Texas' holdings in GameStop were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock worth $67,000 after buying an additional 520 shares during the period. Securian Asset Management Inc. raised its position in shares of GameStop by 1.8% in the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock worth $963,000 after buying an additional 557 shares during the period. Fifth Third Bancorp raised its position in shares of GameStop by 10.3% in the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock worth $139,000 after buying an additional 579 shares during the period. Prudential Financial Inc. raised its position in shares of GameStop by 2.3% in the 4th quarter. Prudential Financial Inc. now owns 28,134 shares of the company's stock worth $882,000 after buying an additional 640 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of GameStop by 10.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,658 shares of the company's stock worth $209,000 after buying an additional 650 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 1,269 shares of GameStop stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $23.95, for a total transaction of $30,392.55. Following the sale, the general counsel directly owned 127,836 shares of the company's stock, valued at approximately $3,061,672.20. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.28% of the company's stock.

Wall Street Analysts Forecast Growth

GME has been the topic of several research reports. Wall Street Zen raised GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush raised GameStop to a "strong sell" rating in a research report on Tuesday, July 1st.

GameStop Stock Up 2.0%

NYSE:GME traded up $0.46 during mid-day trading on Wednesday, hitting $23.68. The company had a trading volume of 7,661,507 shares, compared to its average volume of 11,131,005. The business has a fifty day simple moving average of $26.54 and a 200-day simple moving average of $26.41. 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 1 year low of $18.73 and a 1 year high of $35.81. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 51.47 and a beta of -0.81.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS 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 last year, the company posted ($0.12) earnings per share. The firm's revenue was down 16.9% compared to the same quarter last year. Equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal 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.