New Mexico Educational Retirement Board Acquires 26,488 Shares of GameStop Corp. (NYSE:GME)

New Mexico Educational Retirement Board raised its holdings in shares of GameStop Corp. (NYSE:GME) by 51.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,088 shares of the company’s stock after acquiring an additional 26,488 shares during the quarter. New Mexico Educational Retirement Board’s holdings in GameStop were worth $2,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp raised its holdings in GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after acquiring an additional 3,070,571 shares during the period. Geode Capital Management LLC grew its position in shares of GameStop by 41.8% during the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after purchasing an additional 1,852,088 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of GameStop by 22.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after purchasing an additional 646,488 shares in the last quarter. Van ECK Associates Corp grew its position in shares of GameStop by 8.1% during the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock valued at $41,866,000 after purchasing an additional 136,785 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of GameStop by 46.0% during the third quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after purchasing an additional 249,100 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Trading Up 3.2 %

GME opened at $27.18 on Friday. The firm has a market cap of $12.14 billion, a P/E ratio of 151.01 and a beta of -0.11. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The stock has a 50-day moving average of $28.91 and a 200 day moving average of $25.18.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. The company had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s quarterly revenue was down 20.2% on a year-over-year basis. On average, research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GME has been the subject of a number of research analyst reports. Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value 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. This trade represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel William Moore sold 895 shares of the firm’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 completion of the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was 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.