GameStop Corp. (NYSE:GME) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System grew its position in shares of GameStop Corp. (NYSE:GME) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 394,588 shares of the company’s stock after acquiring an additional 13,576 shares during the quarter. California State Teachers Retirement System’s holdings in GameStop were worth $12,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GME. Vanguard Group Inc. increased its stake in GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock worth $1,226,775,000 after acquiring an additional 2,036,032 shares during the last quarter. Slate Path Capital LP acquired a new stake in GameStop during the fourth quarter worth about $60,361,000. D. E. Shaw & Co. Inc. increased its stake in GameStop by 606.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company’s stock worth $51,735,000 after acquiring an additional 1,417,156 shares during the last quarter. Northern Trust Corp increased its stake in GameStop by 26.2% during the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company’s stock worth $99,389,000 after acquiring an additional 659,345 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in GameStop by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company’s stock worth $208,769,000 after acquiring an additional 380,554 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Stock Performance

GME stock opened at $29.83 on Friday. GameStop Corp. has a 1 year low of $18.73 and a 1 year high of $48.00. The firm has a market cap of $13.34 billion, a P/E ratio of 165.73 and a beta of -0.76. The stock has a 50-day simple moving average of $26.93 and a 200-day simple moving average of $27.32.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. On average, equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity at GameStop

In related news, insider Daniel William Moore sold 1,608 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the transaction, the insider now owns 29,777 shares of the company’s stock, valued at approximately $670,875.81. This represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alain Attal purchased 10,000 shares of GameStop stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now directly owns 572,464 shares of the company’s stock, valued at $14,740,948. The trade was a 1.78% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 515,000 shares of company stock valued at $11,140,200. Insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wedbush set a $11.50 target price on GameStop in a research note on Wednesday, March 26th. Wall Street Zen upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th.

GameStop Company 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.