State of New Jersey Common Pension Fund D Decreases Stock Position in GameStop Corp. (NYSE:GME)

State of New Jersey Common Pension Fund D reduced its position in GameStop Corp. (NYSE:GME) by 49.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 103,531 shares of the company’s stock after selling 100,278 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GameStop were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GME. AlphaMark Advisors LLC increased its position in GameStop by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after buying an additional 396 shares during the last quarter. Centerpoint Advisors LLC purchased a new position in shares of GameStop in the second quarter valued at $47,000. GAMMA Investing LLC grew its position in shares of GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares in the last quarter. Finally, CWM LLC grew its position in shares of GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares in the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, with a total value of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.28% of the stock is owned by company insiders.

GameStop Stock Down 2.7 %

GameStop stock opened at $19.61 on Thursday. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The business has a 50-day simple moving average of $22.81 and a 200 day simple moving average of $20.37. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 245.13 and a beta of -0.17.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue was down 31.4% on a year-over-year basis. On average, research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GME. StockNews.com upgraded GameStop to a “sell” rating in a research report on Wednesday, September 11th. Wedbush reduced their price target on GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th.

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.