Louisiana State Employees Retirement System Boosts Stock Position in GameStop Corp. (NYSE:GME)

Louisiana State Employees Retirement System grew its holdings in GameStop Corp. (NYSE:GME) by 41.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,500 shares of the company’s stock after buying an additional 31,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in GameStop were worth $2,465,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC increased its position in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares in the last quarter. CWM LLC increased its position in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after purchasing an additional 529 shares in the last quarter. UMB Bank n.a. increased its position in shares of GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after purchasing an additional 959 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after purchasing an additional 1,400 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Stock Performance

NYSE GME opened at $22.75 on Tuesday. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The stock’s fifty day moving average is $21.58 and its two-hundred day moving average is $21.93. The firm has a market capitalization of $7.99 billion, a P/E ratio of 284.13 and a beta of -0.19.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was down 31.4% on a year-over-year basis. As a group, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares of the company’s stock, valued at $1,206,196.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 1,972 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the transaction, the insider now directly owns 37,280 shares in the company, valued at approximately $818,668.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock valued at $481,000 in the last quarter. Insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GME shares. Wedbush lowered their price objective on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 11th. StockNews.com raised GameStop to a “sell” rating in a research note on Saturday, October 19th.

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.