Public Employees Retirement System of Ohio Grows Stock Holdings in GameStop Corp. $GME

Public Employees Retirement System of Ohio raised its stake in GameStop Corp. (NYSE:GME) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,424 shares of the company’s stock after buying an additional 5,613 shares during the period. Public Employees Retirement System of Ohio’s holdings in GameStop were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in GameStop by 10.3% in the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company’s stock valued at $139,000 after buying an additional 579 shares during the period. UMB Bank n.a. lifted its position in shares of GameStop by 17.4% in the 2nd quarter. UMB Bank n.a. now owns 4,287 shares of the company’s stock worth $105,000 after purchasing an additional 636 shares during the period. Scratch Capital LLC lifted its position in shares of GameStop by 2.9% in the 2nd quarter. Scratch Capital LLC now owns 24,253 shares of the company’s stock worth $592,000 after purchasing an additional 683 shares during the period. State of Wyoming lifted its position in shares of GameStop by 11.0% in the 1st quarter. State of Wyoming now owns 7,688 shares of the company’s stock worth $172,000 after purchasing an additional 759 shares during the period. Finally, Xponance Inc. lifted its position in shares of GameStop by 1.7% in the 1st quarter. Xponance Inc. now owns 47,392 shares of the company’s stock worth $1,058,000 after purchasing an additional 785 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the completion of the sale, the general counsel owned 116,781 shares of the company’s stock, valued at $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 11,915 shares of company stock worth $286,849 over the last three months. Corporate insiders own 8.58% of the company’s stock.

GameStop Trading Up 1.5%

NYSE:GME opened at $27.68 on Thursday. GameStop Corp. has a 52 week low of $20.30 and a 52 week high of $35.81. The firm has a 50 day moving average of $23.84 and a 200 day moving average of $25.16. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 37.92 and a beta of -0.86.

Shares of GameStop are set to split before the market opens on Friday, October 3rd. The 11-10 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Thursday, October 2nd.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 9th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. GameStop had a net margin of 9.41% and a return on equity of 7.72%. The company had revenue of $972.20 million during the quarter, compared to analysts’ expectations of $823.25 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. GameStop’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush raised shares of GameStop to a “strong sell” rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $13.50.

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.