VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.83 Million in GameStop Corp. $GME

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 74,990 shares of the company's stock, valued at approximately $1,829,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its position in shares of GameStop by 0.4% in the first quarter. Northern Trust Corp now owns 3,183,116 shares of the company's stock worth $71,047,000 after purchasing an additional 11,813 shares during the period. Alyeska Investment Group L.P. grew its position in GameStop by 895.4% in the first quarter. Alyeska Investment Group L.P. now owns 2,641,427 shares of the company's stock valued at $58,957,000 after acquiring an additional 2,376,051 shares during the last quarter. Nuveen LLC bought a new position in GameStop in the first quarter valued at about $33,741,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GameStop by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company's stock valued at $25,255,000 after acquiring an additional 94,892 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in GameStop by 0.4% in the first quarter. Principal Financial Group Inc. now owns 934,730 shares of the company's stock valued at $20,863,000 after acquiring an additional 3,965 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 6,509 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $179,518.22. Following the transaction, the insider directly owned 112,620 shares of the company's stock, valued at approximately $3,106,059.60. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $122,703.42. Following the completion of the transaction, the general counsel directly owned 112,302 shares in the company, valued at approximately $3,097,289.16. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,788 shares of company stock worth $321,046. Insiders own 8.58% of the company's stock.

GameStop Price Performance

GameStop stock opened at $22.47 on Thursday. The stock's 50 day moving average is $24.19 and its 200 day moving average is $25.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 11.37 and a quick ratio of 10.79. The firm has a market cap of $10.06 billion, a P/E ratio of 30.78 and a beta of -0.86. GameStop Corp. has a one year low of $20.35 and a one year high of $35.81.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The company had revenue of $972.20 million for the quarter, compared to analyst estimates of $823.25 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The firm's quarterly revenue was up 21.8% on a year-over-year basis. As a group, research analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of GameStop in a research report on Wednesday, October 8th. Wedbush upgraded GameStop to a "strong sell" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $13.50.

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.

Want to see what other hedge funds are holding GME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GameStop Corp. (NYSE:GME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.