Texas Permanent School Fund Corp Lowers Position in GameStop Corp. (NYSE:GME)

Texas Permanent School Fund Corp trimmed its holdings in shares of GameStop Corp. (NYSE:GME) by 9.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 212,727 shares of the company’s stock after selling 22,354 shares during the period. Texas Permanent School Fund Corp’s holdings in GameStop were worth $5,252,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after purchasing an additional 289,947 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of GameStop by 14.2% during the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after purchasing an additional 209,861 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock valued at $12,662,000 after acquiring an additional 25,159 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after acquiring an additional 1,400 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wedbush reduced their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Wednesday.

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 12.28% of the company’s stock.

GameStop Trading Down 1.2 %

NYSE:GME opened at $20.40 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The company has a market cap of $7.16 billion, a PE ratio of 254.94 and a beta of -0.17. The company has a 50 day simple moving average of $23.17 and a two-hundred day simple moving average of $20.16.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business had revenue of $798.30 million during the quarter, compared to the consensus estimate of $895.67 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm’s revenue was down 31.4% on a year-over-year basis. Research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

GameStop 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.