VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in GameStop Corp. $GME

Key Points

• Virginia Retirement Systems purchased 84,490 GameStop shares worth approximately $1.87 million, while other institutional investors also increased their positions; institutions collectively own 29.21% of GME.
• GameStop’s quarterly revenue of $790.2 million exceeded estimates, and EPS matched consensus at $0.27, but revenue declined 18.7% year over year and EPS fell from $0.31.
• Analyst sentiment remains cautious, with GameStop carrying an average Hold rating. Recent insider buying—including CEO Ryan Cohen’s reported 1 million-share purchase—contrasts with limited insider selling.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 84,490 shares of the company's stock, valued at approximately $1,866,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GME. State Street Corp lifted its position in GameStop by 0.8% in the fourth quarter. State Street Corp now owns 12,469,631 shares of the company's stock valued at $250,390,000 after buying an additional 96,802 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of GameStop by 2,043.5% during the 2nd quarter. California State Teachers Retirement System now owns 10,573,648 shares of the company's stock worth $233,466,000 after purchasing an additional 10,080,362 shares during the period. Geode Capital Management LLC boosted its position in shares of GameStop by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company's stock worth $147,431,000 after purchasing an additional 92,996 shares during the period. Invesco Ltd. increased its holdings in GameStop by 5.5% in the 3rd quarter. Invesco Ltd. now owns 4,068,547 shares of the company's stock valued at $110,990,000 after purchasing an additional 210,523 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in GameStop by 189.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company's stock worth $90,046,000 after purchasing an additional 2,557,079 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GME has been the subject of a number of research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GameStop in a research note on Wednesday, July 29th. Wall Street Zen lowered GameStop from a "buy" rating to a "hold" rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Robinson sold 7,083 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,517.54. Following the sale, the general counsel directly owned 108,147 shares in the company, valued at $2,420,329.86. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Moore sold 7,085 shares of GameStop stock in a transaction dated 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 directly owned 115,125 shares of the company's stock, valued at $2,576,497.50. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have bought 1,060,000 shares of company stock valued at $21,514,000 and have sold 18,125 shares valued at $406,587. 9.50% of the stock is owned by corporate insiders.

GameStop Stock Up 3.6%

Shares of GameStop stock opened at $21.11 on Friday. The company has a quick ratio of 11.91, a current ratio of 8.72 and a debt-to-equity ratio of 0.68. GameStop Corp. has a 52-week low of $17.79 and a 52-week high of $28.10. The company has a market capitalization of $10.65 billion, a P/E ratio of 13.89 and a beta of 1.72. The company has a 50 day moving average of $20.03 and a 200 day moving average of $21.98.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. The business had revenue of $790.20 million for the quarter, compared to analyst estimates of $756.85 million. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The company's revenue was down 18.7% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS.

Trending Headlines about GameStop

Here are the key news stories impacting GameStop this week:

• Positive Sentiment: CEO and Chairman Ryan Cohen purchased 1 million GameStop shares at an average price of approximately $20.38, committing about $20.4 million and raising his direct ownership to more than 39.3 million shares. The purchase is being viewed as a significant vote of confidence in GME’s valuation and strategy. GameStop CEO insider purchase
• Positive Sentiment: Director Alain Attal bought 5,000 shares for $100,000, increasing his stake to 601,464 shares. The purchase adds to a recent cluster of insider buying, including Director James Grube’s acquisition of 10,255 shares for roughly $196,000. Alain Attal GameStop share purchase
• Positive Sentiment: GameStop announced that select previously closed stores are reopening nationwide. The move suggests management sees potential for improved retail traffic and demand, while recent collectibles growth offers a possible avenue for diversification beyond traditional video-game sales. GameStop store reopenings
• Neutral Sentiment: An analyst rating upgrade described GameStop as more interesting following its earnings and insider activity, but broader analyst coverage remains cautious, with the average rating still at Hold. GameStop rating upgrade
• Negative Sentiment: GameStop’s latest quarterly revenue of $790.2 million exceeded estimates, and EPS matched consensus at $0.27, but revenue declined 18.7% year over year and EPS fell from $0.31. Weak software and hardware sales continue to challenge the turnaround, while analysts question whether collectibles growth can offset the contraction. GameStop earnings and outlook

GameStop Company Profile

GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.

Founded in 1984 as Babbage's, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.

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