VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in GameStop Corp. $GME

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in GameStop Corp. (NYSE:GME) in the 2nd quarter, Holdings Channel reports. The fund acquired 84,490 shares of the company’s stock, valued at approximately $1,866,000.

Several other hedge funds also recently made changes to their positions in GME. State Street Corp increased its position in shares of GameStop by 0.8% during the fourth quarter. State Street Corp now owns 12,469,631 shares of the company’s stock worth $250,390,000 after purchasing an additional 96,802 shares in the last quarter. California State Teachers Retirement System grew its stake in GameStop by 2,043.5% during the 2nd quarter. California State Teachers Retirement System now owns 10,573,648 shares of the company’s stock worth $233,466,000 after buying an additional 10,080,362 shares during the last quarter. Geode Capital Management LLC increased its position in GameStop by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company’s stock worth $147,431,000 after buying an additional 92,996 shares during the period. Invesco Ltd. increased its position in GameStop by 5.5% during the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock worth $110,990,000 after buying an additional 210,523 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in GameStop by 189.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock valued at $90,046,000 after buying an additional 2,557,079 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Insider Transactions at GameStop

In other news, CEO Ryan Cohen bought 1,000,000 shares of GameStop stock in a transaction dated Thursday, September 10th. The stock was bought at an average price of $20.38 per share, for a total transaction of $20,380,000.00. Following the purchase, the chief executive officer owned 39,347,842 shares of the company’s stock, valued at approximately $801,909,019.96. The trade was a 2.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Moore sold 7,085 shares of GameStop stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total transaction of $158,562.30. Following the completion of the sale, the insider directly owned 115,125 shares in the company, valued at approximately $2,576,497.50. The trade was a 5.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 1,060,000 shares of company stock worth $21,514,000 and sold 18,125 shares worth $406,587. Corporate insiders own 9.50% of the company’s stock.

Key Headlines Impacting GameStop

Here are the key news stories impacting GameStop this week:

• Positive Sentiment: CEO and Chairman Ryan Cohen purchased 1 million GameStop shares at an average price of approximately $20.38, committing about $20.4 million and raising his direct ownership to more than 39.3 million shares. The purchase is being viewed as a significant vote of confidence in GME’s valuation and strategy. GameStop CEO insider purchase
• Positive Sentiment: Director Alain Attal bought 5,000 shares for $100,000, increasing his stake to 601,464 shares. The purchase adds to a recent cluster of insider buying, including Director James Grube’s acquisition of 10,255 shares for roughly $196,000. Alain Attal GameStop share purchase
• Positive Sentiment: GameStop announced that select previously closed stores are reopening nationwide. The move suggests management sees potential for improved retail traffic and demand, while recent collectibles growth offers a possible avenue for diversification beyond traditional video-game sales. GameStop store reopenings
• Neutral Sentiment: An analyst rating upgrade described GameStop as more interesting following its earnings and insider activity, but broader analyst coverage remains cautious, with the average rating still at Hold. GameStop rating upgrade
• Negative Sentiment: GameStop’s latest quarterly revenue of $790.2 million exceeded estimates, and EPS matched consensus at $0.27, but revenue declined 18.7% year over year and EPS fell from $0.31. Weak software and hardware sales continue to challenge the turnaround, while analysts question whether collectibles growth can offset the contraction. GameStop earnings and outlook

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GME. Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. Wall Street Zen cut shares of GameStop from a “buy” rating to a “hold” rating in a report on Monday, September 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

GameStop Stock Performance

Shares of GME stock opened at $21.11 on Friday. The stock’s 50-day moving average price is $20.03 and its 200 day moving average price is $21.98. The company has a quick ratio of 11.91, a current ratio of 8.72 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $10.65 billion, a PE ratio of 13.89 and a beta of 1.72. GameStop Corp. has a 52-week low of $17.79 and a 52-week high of $28.10.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $790.20 million during the quarter, compared to analysts’ expectations of $756.85 million. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS.

GameStop Company Profile

GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.

Founded in 1984 as Babbage’s, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.