California Public Employees Retirement System Lowers Position in GameStop Corp. $GME

California Public Employees Retirement System trimmed its holdings in shares of GameStop Corp. (NYSE:GME) by 38.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 276,902 shares of the company’s stock after selling 174,068 shares during the quarter. California Public Employees Retirement System’s holdings in GameStop were worth $6,380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GME. AQR Capital Management LLC lifted its stake in GameStop by 312.2% during the first quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock worth $623,000 after purchasing an additional 22,297 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of GameStop by 33.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after buying an additional 65,325 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of GameStop by 9.2% in 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 buying an additional 94,892 shares during the period. American Century Companies Inc. lifted its stake in GameStop by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock worth $865,000 after acquiring an additional 2,162 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after acquiring an additional 886 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GameStop

In other news, insider Daniel William 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 completion of the transaction, the insider owned 115,125 shares in the company, valued at approximately $2,576,497.50. This trade represents a 5.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 3,957 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $22.62, for a total value of $89,507.34. Following the transaction, the general counsel directly owned 104,190 shares of the company’s stock, valued at approximately $2,356,777.80. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,125 shares of company stock worth $406,587 in the last ninety days. 9.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen raised GameStop from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

GameStop Stock Up 0.0%

GameStop stock opened at $21.17 on Monday. The firm has a market capitalization of $9.50 billion, a P/E ratio of 16.04 and a beta of 1.76. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. GameStop Corp. has a twelve month low of $19.93 and a twelve month high of $28.10. The stock’s fifty day simple moving average is $21.87 and its 200-day simple moving average is $22.91.

GameStop (NYSE:GME) last released its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The firm had revenue of $835.30 million during the quarter, compared to analyst estimates of $766.63 million. During the same period last year, the business posted $0.17 earnings per share. GameStop’s revenue was up 14.0% compared to the same quarter last year.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.