Retirement Systems of Alabama increased its position in GameStop Corp. (NYSE:GME) by 157.5% during the second quarter, Holdings Channel reports. The firm owned 134,091 shares of the company’s stock after buying an additional 82,016 shares during the period. Retirement Systems of Alabama’s holdings in GameStop Corp. were worth $3,564,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of GME. Adage Capital Partners GP L.L.C. raised its position in GameStop Corp. by 0.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 160,700 shares of the company’s stock worth $5,099,000 after buying an additional 500 shares during the period. Babson Capital Management LLC raised its position in GameStop Corp. by 0.9% in the first quarter. Babson Capital Management LLC now owns 67,012 shares of the company’s stock worth $2,126,000 after buying an additional 600 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in GameStop Corp. by 9.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 15,468 shares of the company’s stock worth $411,000 after buying an additional 1,381 shares during the period. Weaver C. Barksdale & Associates Inc. raised its position in GameStop Corp. by 8.3% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 19,820 shares of the company’s stock worth $527,000 after buying an additional 1,514 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in GameStop Corp. by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 361,363 shares of the company’s stock worth $9,605,000 after buying an additional 1,516 shares during the period.
Shares of GameStop Corp. (NYSE:GME) traded up 0.49% during mid-day trading on Tuesday, reaching $24.82. The company had a trading volume of 2,069,377 shares. The firm has a 50-day moving average of $27.21 and a 200-day moving average of $28.94. The company has a market capitalization of $2.58 billion, a P/E ratio of 6.54 and a beta of 1.08. GameStop Corp. has a 12-month low of $24.33 and a 12-month high of $47.62.
GameStop Corp. (NYSE:GME) last released its earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.73 billion. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that GameStop Corp. will post $3.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.96%. GameStop Corp.’s dividend payout ratio is presently 39.05%.
A number of research firms have commented on GME. Bank of America Corp. restated a “buy” rating on shares of GameStop Corp. in a research note on Sunday, July 17th. Wedbush set a $36.00 price target on GameStop Corp. and gave the company a “buy” rating in a research note on Sunday, August 28th. Pacific Crest reiterated a “hold” rating on shares of GameStop Corp. in a research note on Sunday, August 28th. Vetr upgraded GameStop Corp. from a “buy” rating to a “strong-buy” rating and set a $33.63 price target on the stock in a research note on Tuesday, August 2nd. Finally, Macquarie assumed coverage on GameStop Corp. in a research note on Thursday, June 30th. They issued an “outperform” rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. GameStop Corp. currently has a consensus rating of “Buy” and a consensus price target of $36.71.
In other news, EVP Michael Mauler bought 10,000 shares of GameStop Corp. stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $26.91 per share, with a total value of $269,100.00. Following the completion of the purchase, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is 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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