State of Michigan Retirement System Has $826,000 Stake in GameStop Corp. (NYSE:GME)

State of Michigan Retirement System lifted its position in GameStop Corp. (NYSE:GMEFree Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,000 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. State of Michigan Retirement System’s holdings in GameStop were worth $826,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GME. Headlands Technologies LLC acquired a new position in shares of GameStop in the fourth quarter valued at $55,000. First United Bank & Trust acquired a new position in shares of GameStop in the fourth quarter valued at $70,000. Fifth Third Bancorp raised its stake in GameStop by 50.6% during the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after acquiring an additional 1,445 shares in the last quarter. Merit Financial Group LLC acquired a new position in GameStop during the fourth quarter worth $176,000. Finally, Handelsinvest Investeringsforvaltning acquired a new position in GameStop during the fourth quarter worth $184,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com upgraded GameStop to a “sell” rating in a research note on Thursday, June 20th. Wedbush dropped their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th.

Read Our Latest Analysis on GME

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the sale, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,647 shares of company stock worth $300,183. Insiders own 12.28% of the company’s stock.

GameStop Price Performance

Shares of GME stock opened at $24.18 on Monday. The stock’s fifty day moving average is $23.91 and its 200-day moving average is $17.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The stock has a market capitalization of $8.49 billion, a PE ratio of 302.29 and a beta of -0.10. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GMEGet Free Report) last announced its earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $881.80 million for the quarter, compared to the consensus estimate of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. GameStop’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.14) EPS. Equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

About GameStop

(Free Report)

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.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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