VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in GameStop Corp. $GME

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of GameStop Corp. (NYSE:GME) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 74,990 shares of the company’s stock, valued at approximately $1,829,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of GameStop during the second quarter valued at approximately $45,000. US Bancorp DE increased its holdings in shares of GameStop by 92.5% during the first quarter. US Bancorp DE now owns 3,726 shares of the company’s stock valued at $83,000 after acquiring an additional 1,790 shares in the last quarter. Bogart Wealth LLC increased its holdings in shares of GameStop by 100.0% during the first quarter. Bogart Wealth LLC now owns 4,000 shares of the company’s stock valued at $89,000 after acquiring an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in GameStop by 31.8% during the first quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company’s stock worth $93,000 after buying an additional 1,000 shares in the last quarter. Finally, CWM LLC grew its holdings in GameStop by 47.6% during the first quarter. CWM LLC now owns 4,353 shares of the company’s stock worth $97,000 after buying an additional 1,404 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 6,509 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $179,518.22. Following the transaction, the insider owned 112,620 shares of the company’s stock, valued at $3,106,059.60. This represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $122,703.42. Following the transaction, 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 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 in the last ninety days. Insiders own 8.58% of the company’s stock.

GameStop Stock Down 1.4%

Shares of NYSE:GME opened at $22.47 on Thursday. The company has a market capitalization of $10.06 billion, a PE ratio of 30.78 and a beta of -0.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 11.37 and a quick ratio of 10.79. The business has a fifty day moving average price of $24.19 and a two-hundred day moving average price of $25.20. GameStop Corp. has a 1 year low of $20.35 and a 1 year high of $35.81.

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

Analyst Ratings Changes

Several brokerages recently issued reports on GME. Wedbush upgraded GameStop to a “strong sell” rating in a report on Tuesday, July 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of GameStop in a report 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’s stock. According to MarketBeat, GameStop 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.