Louisiana State Employees Retirement System Purchases Shares of 119,500 GameStop Corp. $GME

Louisiana State Employees Retirement System purchased a new stake in GameStop Corp. (NYSE:GME) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 119,500 shares of the company’s stock, valued at approximately $2,753,000.

Several other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of GameStop by 58.3% during the third quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock worth $84,528,000 after buying an additional 1,141,215 shares during the period. South Dakota Investment Council purchased a new stake in shares of GameStop in the 3rd quarter valued at $2,095,000. Clear Street Group Inc. acquired a new position in GameStop during the 3rd quarter worth about $29,971,000. Flow Traders U.S. LLC lifted its stake in GameStop by 189.1% during the 3rd quarter. Flow Traders U.S. LLC now owns 126,543 shares of the company’s stock worth $3,452,000 after acquiring an additional 82,772 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in GameStop by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company’s stock valued at $147,431,000 after acquiring an additional 92,996 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Stock Up 0.1%

GameStop stock opened at $21.77 on Monday. 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 $22.72 and its 200-day simple moving average is $22.84. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $9.77 billion, a P/E ratio of 16.50 and a beta of 1.78.

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

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 3,912 shares of GameStop stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $23.19, for a total value of $90,719.28. Following the completion of the transaction, the general counsel owned 115,230 shares in the company, valued at approximately $2,672,183.70. This trade represents a 3.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,210 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total transaction of $165,397.40. Following the transaction, the insider owned 101,014 shares of the company’s stock, valued at approximately $2,317,261.16. The trade was a 6.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,331 shares of company stock worth $421,491. 9.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GME. 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 research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GameStop has a consensus rating of “Reduce”.

GameStop Company Profile

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.