Louisiana State Employees Retirement System Purchases New Shares in GameStop Corp. (NYSE:GME)

Louisiana State Employees Retirement System bought a new stake in shares of GameStop Corp. (NYSE:GME - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 75,400 shares of the company's stock, valued at approximately $1,322,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of GameStop by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company's stock valued at $416,160,000 after buying an additional 345,488 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of GameStop by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,316,585 shares of the company's stock valued at $38,131,000 after buying an additional 243,608 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of GameStop by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company's stock valued at $35,176,000 after buying an additional 16,875 shares in the last quarter. Northern Trust Corp lifted its stake in GameStop by 2.1% in the 3rd quarter. Northern Trust Corp now owns 1,932,666 shares of the company's stock worth $31,812,000 after purchasing an additional 40,602 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in GameStop by 4.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,231,452 shares of the company's stock worth $20,270,000 after purchasing an additional 49,139 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wedbush lowered their target price on shares of GameStop from $6.00 to $5.60 and set an "underperform" rating on the stock in a research note on Wednesday, March 27th. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research note on Wednesday, March 27th.

Insider Activity

In related news, Director Lawrence Cheng acquired 10,000 shares of the stock in a transaction dated Monday, April 8th. The shares were purchased at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the transaction, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares of the company's stock, valued at approximately $746,615.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lawrence Cheng bought 10,000 shares of GameStop stock in a transaction that occurred on Monday, April 8th. The shares were acquired at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,957 shares of company stock worth $68,971. 12.64% of the stock is currently owned by corporate insiders.

GameStop Price Performance

Shares of GameStop stock traded down $0.40 on Monday, hitting $10.02. 3,253,939 shares of the company traded hands, compared to its average volume of 3,789,256. The firm's 50-day simple moving average is $13.10 and its 200 day simple moving average is $14.16. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.06 billion, a P/E ratio of 501.25 and a beta of -0.45. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $27.65.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business's quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. Analysts expect that GameStop Corp. will post 0.01 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.