Teacher Retirement System of Texas Acquires New Holdings in GameStop Corp. (NYSE:GME)

Teacher Retirement System of Texas acquired a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,356 shares of the company's stock, valued at approximately $732,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GME. State Street Corp grew its position in shares of GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company's stock worth $255,526,000 after acquiring an additional 3,070,571 shares during the last quarter. Geode Capital Management LLC boosted its stake in GameStop by 41.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company's stock valued at $144,009,000 after purchasing an additional 1,852,088 shares during the period. JPMorgan Chase & Co. grew its position in GameStop by 46.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company's stock worth $17,750,000 after purchasing an additional 244,339 shares during the last quarter. Amundi acquired a new position in shares of GameStop during the fourth quarter worth approximately $5,332,000. Finally, Retirement Systems of Alabama grew its holdings in GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company's stock worth $10,804,000 after buying an additional 138,597 shares in the last quarter. Institutional investors own 29.21% of the company's stock.

GameStop Stock Performance

Shares of GME stock traded down $0.26 during mid-day trading on Wednesday, hitting $22.35. 7,793,899 shares of the stock traded hands, compared to its average volume of 8,906,070. The company's 50-day simple moving average is $25.16 and its 200-day simple moving average is $25.72. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 124.17 and a beta of -0.29.

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GameStop (NYSE:GME - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm posted $0.21 earnings per share. The firm's revenue for the quarter was down 28.5% compared to the same quarter last year. Analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel William Moore sold 895 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GME. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush reaffirmed an "underperform" rating and issued a $10.00 price objective on shares of GameStop in a report on Monday, March 24th.

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.