GameStop Corp. $GME Holdings Raised by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its stake in shares of GameStop Corp. (NYSE:GME) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,500 shares of the company’s stock after buying an additional 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in GameStop were worth $2,793,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GME. Alyeska Investment Group L.P. grew its stake in GameStop by 895.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,641,427 shares of the company’s stock worth $58,957,000 after buying an additional 2,376,051 shares during the last quarter. Nuveen LLC acquired a new position in GameStop during the 1st quarter worth $33,741,000. Jump Financial LLC acquired a new position in GameStop during the 1st quarter worth $5,725,000. Marathon Trading Investment Management LLC boosted its position in GameStop by 211.1% during the 1st quarter. Marathon Trading Investment Management LLC now owns 349,280 shares of the company’s stock worth $7,796,000 after acquiring an additional 236,996 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in GameStop during the 1st quarter worth $2,967,000. 29.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,449 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $122,703.42. Following the completion of the sale, the general counsel directly owned 112,302 shares of the company’s stock, valued at $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel William Moore sold 6,509 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $179,518.22. Following the sale, the insider directly owned 112,620 shares of the company’s stock, valued at approximately $3,106,059.60. This represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,873 shares of company stock valued at $589,070. Insiders own 8.58% of the company’s stock.

Analyst Upgrades and Downgrades

GME has been the subject of a number of analyst reports. Wedbush upgraded GameStop to a “strong sell” rating in a research report on Tuesday, July 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of GameStop in a research report on Wednesday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $13.50.

GameStop Trading Down 1.7%

Shares of GameStop stock opened at $23.99 on Friday. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 32.86 and a beta of -0.86. The business has a fifty day simple moving average of $24.10 and a 200-day simple moving average of $25.20. GameStop Corp. has a fifty-two week low of $20.35 and a fifty-two week high of $35.81.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $972.20 million during the quarter, compared to analyst estimates of $823.25 million. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities analysts forecast that GameStop Corp. will post 0.08 EPS 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.