State of New Jersey Common Pension Fund D Has $2.56 Million Stock Holdings in GameStop Corp. (NYSE:GME)

State of New Jersey Common Pension Fund D decreased its stake in GameStop Corp. (NYSE:GME) by 49.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares during the period. Van ECK Associates Corp grew its stake in GameStop by 14.2% during the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after purchasing an additional 209,861 shares during the period. Principal Financial Group Inc. grew its stake in GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after purchasing an additional 25,159 shares during the period. Swiss National Bank grew its stake in GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after purchasing an additional 1,400 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in GameStop by 2.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 304,884 shares of the company’s stock worth $3,817,000 after purchasing an additional 8,437 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Stock Down 2.7 %

GME stock opened at $19.61 on Thursday. The stock’s 50 day moving average is $22.81 and its 200-day moving average is $20.37. The firm has a market capitalization of $6.89 billion, a PE ratio of 245.13 and a beta of -0.17. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last issued its quarterly 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. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. GameStop’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. On average, equities research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the acquisition, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GME shares. StockNews.com upgraded GameStop to a “sell” rating in a report on Wednesday, September 11th. Wedbush dropped their target price on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th.

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.