California Public Employees Retirement System Trims Stock Holdings in GameStop Corp. (NYSE:GME)

California Public Employees Retirement System decreased its position in GameStop Corp. (NYSE:GME) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 165,615 shares of the company’s stock after selling 14,716 shares during the quarter. California Public Employees Retirement System owned approximately 0.05% of GameStop worth $2,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of GameStop by 175.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock worth $47,000 after buying an additional 1,819 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of GameStop during the fourth quarter valued at $184,000. Algert Global LLC bought a new position in shares of GameStop during the third quarter valued at $191,000. Revisor Wealth Management LLC purchased a new position in shares of GameStop in the 3rd quarter worth about $213,000. Finally, Dark Forest Capital Management LP boosted its stake in GameStop by 71.1% in the 3rd quarter. Dark Forest Capital Management LP now owns 17,897 shares of the company’s stock worth $295,000 after purchasing an additional 7,435 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Price Performance

NYSE GME opened at $16.47 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. The stock has a 50-day moving average of $12.73 and a 200 day moving average of $13.97. GameStop Corp. has a one year low of $9.95 and a one year high of $27.65. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 823.91 and a beta of -0.25.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The firm’s revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. On average, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush lowered their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction on Tuesday, April 2nd. The stock was 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 in the company, valued at $746,615.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s 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 sale, the general counsel now owns 64,308 shares in the company, valued at approximately $746,615.88. 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 GameStop stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the transaction, the insider now directly owns 13,606 shares in the company, valued at approximately $138,781.20. The disclosure for this sale can be found here. Insiders have sold 27,207 shares of company stock worth $285,048 in the last 90 days. 12.64% of the stock is currently owned by 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.