State of New Jersey Common Pension Fund D Sells 3,710 Shares of GameStop Corp. $GME

State of New Jersey Common Pension Fund D decreased its position in GameStop Corp. (NYSE:GME) by 2.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,285 shares of the company’s stock after selling 3,710 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GameStop were worth $3,544,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. raised its position in 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 bought a new stake in shares of GameStop in the first quarter valued at about $33,741,000. Jump Financial LLC purchased a new stake in GameStop in the first quarter worth about $5,725,000. Marathon Trading Investment Management LLC grew its holdings in GameStop by 211.1% during the 1st quarter. Marathon Trading Investment Management LLC now owns 349,280 shares of the company’s stock worth $7,796,000 after acquiring an additional 236,996 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in GameStop during the 1st quarter valued at about $2,967,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Trading Up 1.0%

NYSE GME opened at $23.53 on Tuesday. GameStop Corp. has a 52 week low of $20.73 and a 52 week high of $35.81. The company has a 50 day moving average price of $24.22 and a 200 day moving average price of $25.19. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The firm has a market cap of $10.54 billion, a PE ratio of 32.23 and a beta of -0.86.

GameStop (NYSE:GME) last released its quarterly 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. The business had revenue of $972.20 million for the quarter, compared to analyst estimates of $823.25 million. GameStop had a net margin of 9.41% and a return on equity of 7.72%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. As a group, sell-side analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 6,509 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $179,518.22. Following the completion of the sale, the insider directly owned 112,620 shares in the company, valued at approximately $3,106,059.60. This trade represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $122,703.42. Following the sale, the general counsel owned 112,302 shares in the company, valued at $3,097,289.16. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,788 shares of company stock worth $321,046 over the last ninety days. 8.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GME has been the subject of several research reports. Wedbush raised shares of GameStop to a “strong sell” rating in a research report on Tuesday, July 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of GameStop in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GameStop currently has an average rating of “Reduce” and a consensus target price of $13.50.

About GameStop

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.