Oak Thistle LLC Invests $1.30 Million in GameStop Corp. (NYSE:GME)

Oak Thistle LLC bought a new position in shares of GameStop Corp. (NYSE:GME - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 58,293 shares of the company's stock, valued at approximately $1,301,000.

A number of other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System lifted its stake in shares of GameStop by 10.7% during the first quarter. New York State Teachers Retirement System now owns 311,864 shares of the company's stock worth $6,961,000 after buying an additional 30,200 shares during the period. Exchange Traded Concepts LLC acquired a new position in GameStop during the first quarter valued at $465,000. Slate Path Capital LP acquired a new position in GameStop during the fourth quarter valued at $60,361,000. Invesco Ltd. lifted its position in GameStop by 6.1% during the fourth 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 period. Finally, California State Teachers Retirement System lifted its position in GameStop by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 394,588 shares of the company's stock valued at $12,366,000 after purchasing an additional 13,576 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Trading Down 1.0%

Shares of GameStop stock traded down $0.23 during mid-day trading on Friday, hitting $23.30. The stock had a trading volume of 7,058,391 shares, 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 firm has a market cap of $10.42 billion, a P/E ratio of 50.65 and a beta of -0.81. The firm has a 50-day moving average of $25.89 and a two-hundred day moving average of $25.95. GameStop Corp. has a 12-month low of $18.73 and a 12-month high of $35.81.

GameStop (NYSE:GME - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.13. The firm had revenue of $732.40 million for 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 company's revenue was down 16.9% on a year-over-year basis. During the same period last year, the firm posted ($0.12) EPS. Sell-side analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total value of $267,309.90. Following the completion of the sale, the general counsel owned 116,781 shares in the company, valued at $2,823,764.58. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 13,075 shares of company stock valued at $315,685 in the last ninety days. 12.28% of the stock is owned by company insiders.

About GameStop

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.