Public Employees Retirement System of Ohio Invests $2.58 Million in GameStop Corp. $GME

Key Points

• Public Employees Retirement System of Ohio purchased 116,759 GameStop shares in the second quarter, valued at approximately $2.58 million. Institutional investors and hedge funds collectively own 29.21% of the company.
• Analyst sentiment remains cautious: GameStop has an average “Hold” rating, although Wall Street Zen recently upgraded the stock to “Buy.”
• GameStop insiders sold 18,125 shares worth about $406,587 over the past 90 days, while the stock opened at $19.21 and remained near the lower end of its 52-week range of $17.79 to $28.10.

Public Employees Retirement System of Ohio purchased a new stake in GameStop Corp. (NYSE:GME - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 116,759 shares of the company's stock, valued at approximately $2,578,000.

A number of other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company's stock worth $26,000 after acquiring an additional 732 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company's stock valued at $31,000 after purchasing an additional 886 shares in the last quarter. Advisory Services Network LLC acquired a new stake in GameStop in the third quarter worth $39,000. Los Angeles Capital Management LLC acquired a new stake in GameStop in the fourth quarter worth $39,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of GameStop by 805.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company's stock worth $45,000 after purchasing an additional 2,014 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GME. Weiss Ratings reissued a "hold (c)" rating on shares of GameStop in a report on Wednesday, July 29th. Wall Street Zen upgraded GameStop from a "hold" rating to a "buy" rating in a report on Sunday, August 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

Insider Activity at GameStop

In other GameStop news, insider Daniel Moore sold 7,085 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,562.30. Following the sale, the insider owned 115,125 shares in the company, valued at approximately $2,576,497.50. The trade was a 5.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark Robinson sold 3,957 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.62, for a total value of $89,507.34. Following the transaction, the general counsel directly owned 104,190 shares of the company's stock, valued at approximately $2,356,777.80. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,125 shares of company stock worth $406,587 in the last 90 days. Company insiders own 9.50% of the company's stock.

GameStop Stock Down 0.1%

GME stock opened at $19.21 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. The stock has a market capitalization of $8.62 billion, a P/E ratio of 14.55 and a beta of 1.72. The business has a 50-day moving average of $20.28 and a 200-day moving average of $22.11. GameStop Corp. has a fifty-two week low of $17.79 and a fifty-two week high of $28.10.

GameStop Profile

GameStop Corp. NYSE: GME is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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