Arizona State Retirement System Grows Position in GameStop Corp. (GME)

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Arizona State Retirement System increased its stake in GameStop Corp. (NYSE:GME) by 6.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 156,997 shares of the company’s stock after acquiring an additional 9,219 shares during the period. Arizona State Retirement System’s holdings in GameStop were worth $1,981,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of GameStop by 3.9% during the third quarter. BlackRock Inc. now owns 14,800,155 shares of the company’s stock valued at $225,998,000 after purchasing an additional 550,779 shares in the last quarter. FMR LLC increased its stake in shares of GameStop by 2.2% during the third quarter. FMR LLC now owns 14,544,866 shares of the company’s stock valued at $222,100,000 after purchasing an additional 319,831 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of GameStop by 2.1% during the third quarter. Vanguard Group Inc. now owns 10,061,311 shares of the company’s stock valued at $153,636,000 after purchasing an additional 206,731 shares in the last quarter. Vanguard Group Inc increased its stake in shares of GameStop by 2.1% during the third quarter. Vanguard Group Inc now owns 10,061,311 shares of the company’s stock valued at $153,636,000 after purchasing an additional 206,731 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of GameStop by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 3,032,862 shares of the company’s stock valued at $46,313,000 after purchasing an additional 99,147 shares in the last quarter. 98.82% of the stock is owned by institutional investors.

NYSE:GME opened at $11.47 on Thursday. GameStop Corp. has a 52 week low of $11.00 and a 52 week high of $17.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 1.10. The company has a market cap of $1.17 billion, a PE ratio of 3.43 and a beta of 0.68.

GameStop (NYSE:GME) last posted its quarterly earnings results on Thursday, November 29th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. GameStop had a negative net margin of 6.45% and a positive return on equity of 15.72%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts predict that GameStop Corp. will post 2.69 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of GameStop from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Zacks Investment Research reaffirmed a “sell” rating on shares of GameStop in a research note on Tuesday, November 13th. Robert W. Baird raised their target price on shares of GameStop from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, January 18th. Credit Suisse Group cut shares of GameStop from a “neutral” rating to an “underperform” rating and set a $11.00 price target on the stock. in a report on Tuesday, January 29th. Finally, Loop Capital set a $16.00 price target on shares of GameStop and gave the company a “hold” rating in a report on Friday, November 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.22.

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GameStop Profile

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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