Teacher Retirement System of Texas lowered its stake in shares of GameStop Corp. (NYSE:GME) by 16.5% during the second quarter, Holdings Channel reports. The institutional investor owned 114,403 shares of the company’s stock after selling 22,612 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of GameStop Corp. worth $3,041,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in GameStop Corp. by 32.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,415 shares of the company’s stock valued at $108,000 after buying an additional 840 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in GameStop Corp. during the first quarter valued at about $117,000. BlueMountain Capital Management LLC bought a new stake in GameStop Corp. during the first quarter valued at about $156,000. Penserra Capital Management LLC raised its stake in GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock valued at $131,000 after buying an additional 542 shares in the last quarter. Finally, Seven Eight Capital LLC raised its stake in GameStop Corp. by 95.3% in the first quarter. Seven Eight Capital LLC now owns 5,401 shares of the company’s stock valued at $171,000 after buying an additional 2,635 shares in the last quarter.
GameStop Corp. (NYSE:GME) traded up 0.47% on Wednesday, hitting $27.85. The stock had a trading volume of 814,369 shares. The firm’s 50 day moving average price is $29.38 and its 200-day moving average price is $29.52. GameStop Corp. has a 12 month low of $24.33 and a 12 month high of $47.62. The stock has a market cap of $2.90 billion, a PE ratio of 7.34 and a beta of 1.03.
GameStop Corp. (NYSE:GME) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.73 billion. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. On average, analysts forecast that GameStop Corp. will post $3.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Wednesday, September 7th. GameStop Corp.’s payout ratio is presently 39.05%.
Several analysts have issued reports on the company. Bank of America Corp. reissued a “buy” rating on shares of GameStop Corp. in a report on Sunday, July 17th. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a research report on Sunday, May 29th. Robert W. Baird restated a “buy” rating on shares of GameStop Corp. in a research report on Sunday, May 29th. Wedbush set a $36.00 price objective on GameStop Corp. and gave the company a “buy” rating in a research report on Sunday, August 28th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of GameStop Corp. in a research report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. GameStop Corp. presently has a consensus rating of “Buy” and an average price target of $36.57.
In related news, EVP Michael Mauler bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $26.91 per share, for a total transaction of $269,100.00. Following the acquisition, the executive vice president now owns 120,922 shares of the company’s stock, valued at $3,254,011.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.
GameStop Corp. Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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