Teacher Retirement System of Texas Invests $732,000 in GameStop Corp. (NYSE:GME)

Teacher Retirement System of Texas acquired a new stake in shares of GameStop Corp. (NYSE:GME) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 23,356 shares of the company’s stock, valued at approximately $732,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in GameStop by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock valued at $294,000 after purchasing an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. lifted its holdings in shares of GameStop by 1.9% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after purchasing an additional 518 shares during the period. Crossmark Global Holdings Inc. boosted its position in GameStop by 2.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after buying an additional 523 shares during the last quarter. Securian Asset Management Inc. increased its holdings in GameStop by 1.8% in the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock worth $963,000 after buying an additional 557 shares during the period. Finally, Fifth Third Bancorp raised its position in GameStop by 11.1% during the 4th quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock worth $177,000 after buying an additional 566 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Stock Down 1.5 %

GameStop stock opened at $21.77 on Monday. The business’s 50-day moving average price is $25.36 and its 200 day moving average price is $25.69. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 120.92 and a beta of -0.29. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

GME has been the topic of several recent research reports. Wedbush reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a report on Monday, March 24th. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now owns 42,350 shares of the company’s stock, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

About GameStop

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.