GameStop Corp. (NYSE:GME) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its holdings in shares of GameStop Corp. (NYSE:GME) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,796 shares of the company’s stock after selling 1,299 shares during the quarter. Arizona State Retirement System’s holdings in GameStop were worth $1,346,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GME. Vanguard Group Inc. grew its position in GameStop by 304.8% in the 3rd quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock valued at $607,235,000 after buying an additional 18,193,982 shares in the last quarter. State Street Corp lifted its holdings in shares of GameStop by 307.5% during the 3rd quarter. State Street Corp now owns 6,928,945 shares of the company’s stock valued at $174,124,000 after buying an additional 5,228,654 shares during the last quarter. Norges Bank bought a new stake in shares of GameStop during the 4th quarter worth $19,508,000. Point72 Asset Management L.P. bought a new position in shares of GameStop during the 4th quarter worth about $11,181,000. Finally, Renaissance Technologies LLC increased its stake in GameStop by 11,704.3% during the first quarter. Renaissance Technologies LLC now owns 306,912 shares of the company’s stock valued at $51,125,000 after acquiring an additional 304,312 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

GameStop Stock Performance

NYSE:GME opened at $10.77 on Friday. The stock has a market cap of $3.29 billion, a P/E ratio of 538.77 and a beta of -0.45. GameStop Corp. has a 1-year low of $10.73 and a 1-year high of $27.65. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $14.40.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. GameStop’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Wedbush reduced their price target on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research report on Wednesday, March 27th.

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GameStop news, Director Lawrence Cheng purchased 10,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were acquired at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the purchase, the director now directly owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares in the company, valued at approximately $746,615.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,957 shares of company stock worth $68,971. 12.64% of the stock is owned by company insiders.

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.