Retirement Systems of Alabama Grows Stake in GameStop Corp. $GME

Retirement Systems of Alabama grew its position in shares of GameStop Corp. (NYSE:GME) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 497,501 shares of the company’s stock after purchasing an additional 2,634 shares during the period. Retirement Systems of Alabama owned approximately 0.11% of GameStop worth $12,134,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp grew its position in shares of GameStop by 0.4% during the 1st quarter. Northern Trust Corp now owns 3,183,116 shares of the company’s stock valued at $71,047,000 after purchasing an additional 11,813 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of GameStop by 895.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,641,427 shares of the company’s stock valued at $58,957,000 after purchasing an additional 2,376,051 shares in the last quarter. Nuveen LLC purchased a new position in shares of GameStop during the 1st quarter valued at $33,741,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of GameStop by 9.2% during the 1st 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 purchasing an additional 94,892 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of GameStop by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 934,730 shares of the company’s stock valued at $20,863,000 after purchasing an additional 3,965 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Stock Down 1.2%

Shares of NYSE:GME opened at $22.32 on Friday. GameStop Corp. has a 52-week low of $20.73 and a 52-week high of $35.81. The firm has a fifty day moving average of $24.24 and a 200 day moving average of $25.10. The firm has a market capitalization of $10.00 billion, a PE ratio of 30.58 and a beta of -0.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 10.79 and a current ratio of 11.37.

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

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,449 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were 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 in the company, valued at $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel William Moore sold 6,509 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total transaction of $179,518.22. Following the sale, the insider 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,788 shares of company stock valued at $321,046. Company insiders own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of GameStop in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price 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.