GameStop Corp. (NYSE:GME) Stake Lowered by New York State Teachers Retirement System
New York State Teachers Retirement System lowered its position in GameStop Corp. (NYSE:GME) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,235 shares of the company’s stock after selling 3,000 shares during the period. New York State Teachers Retirement System owned approximately 0.20% of GameStop Corp. worth $4,583,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in GME. James Investment Research Inc. boosted its stake in shares of GameStop Corp. by 21.0% in the first quarter. James Investment Research Inc. now owns 4,630 shares of the company’s stock worth $104,000 after buying an additional 805 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in GameStop Corp. by 151.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,572 shares of the company’s stock valued at $116,000 after buying an additional 2,754 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in GameStop Corp. during the fourth quarter valued at $126,000. Westpac Banking Corp acquired a new stake in GameStop Corp. during the first quarter valued at $134,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GameStop Corp. by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock valued at $149,000 after buying an additional 3,700 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.
Shares of GameStop Corp. (GME) traded up 1.31% during trading on Thursday, reaching $21.66. The company’s stock had a trading volume of 1,048,340 shares. The stock has a market cap of $2.19 billion, a P/E ratio of 6.43 and a beta of 1.20. GameStop Corp. has a 12-month low of $20.10 and a 12-month high of $32.67. The stock’s 50-day moving average is $21.17 and its 200-day moving average is $23.06. GameStop Corp. also was the recipient of unusually large options trading on Monday. Stock investors bought 7,407 put options on the stock. This is an increase of 229% compared to the typical volume of 2,249 put options.
GameStop Corp. (NYSE:GME) last issued its earnings results on Thursday, May 25th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.96 billion. GameStop Corp. had a return on equity of 10.46% and a net margin of 2.88%. GameStop Corp.’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. Equities research analysts anticipate that GameStop Corp. will post $3.32 earnings per share for the current fiscal year.
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GME has been the subject of several research reports. Telsey Advisory Group raised GameStop Corp. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 10th. Mizuho reaffirmed a “buy” rating and issued a $27.00 target price on shares of GameStop Corp. in a research report on Tuesday, April 18th. Loop Capital reaffirmed a “buy” rating and issued a $28.00 target price on shares of GameStop Corp. in a research report on Sunday, May 28th. Vetr cut GameStop Corp. from a “sell” rating to a “strong sell” rating and set a $20.04 target price for the company. in a research report on Monday, May 15th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $24.00 target price on shares of GameStop Corp. in a research report on Sunday, May 28th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. GameStop Corp. currently has a consensus rating of “Hold” and a consensus price target of $24.84.
About GameStop Corp.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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