Canada Pension Plan Investment Board Invests $492,000 in GameStop Corp. (NYSE:GME)

Canada Pension Plan Investment Board purchased a new position in shares of GameStop Corp. (NYSE:GME) during the second quarter, Holdings Channel reports. The institutional investor purchased 20,300 shares of the company’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of GameStop by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,002,037 shares of the company’s stock worth $23,067,000 after buying an additional 9,282 shares in the last quarter. Credit Suisse AG boosted its position in GameStop by 1.9% during the first quarter. Credit Suisse AG now owns 357,299 shares of the company’s stock valued at $8,225,000 after purchasing an additional 6,661 shares in the last quarter. Bank of Montreal Can bought a new stake in GameStop during the second quarter valued at about $811,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in GameStop by 7.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 122,256 shares of the company’s stock valued at $2,965,000 after purchasing an additional 8,394 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in GameStop by 11.4% during the second quarter. Handelsbanken Fonder AB now owns 49,000 shares of the company’s stock valued at $1,188,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 39.46% of the company’s stock.

GameStop Trading Down 1.7 %

GameStop stock opened at $12.81 on Tuesday. The stock has a 50-day moving average of $14.83 and a two-hundred day moving average of $19.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.24 and a current ratio of 1.87. GameStop Corp. has a one year low of $11.82 and a one year high of $27.87. The stock has a market cap of $3.91 billion, a PE ratio of -38.82 and a beta of -0.21.

GameStop (NYSE:GME) last released its quarterly earnings results on Wednesday, September 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.11. GameStop had a negative return on equity of 7.50% and a negative net margin of 1.72%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted ($0.35) earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that GameStop Corp. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,220 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $15.41, for a total value of $65,030.20. Following the completion of the sale, the general counsel now directly owns 81,343 shares in the company, valued at $1,253,495.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Lawrence Cheng bought 4,768 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average price of $17.64 per share, with a total value of $84,107.52. Following the completion of the acquisition, the director now directly owns 53,856 shares of the company’s stock, valued at approximately $950,019.84. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 4,220 shares of GameStop stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $15.41, for a total value of $65,030.20. Following the sale, the general counsel now directly owns 81,343 shares of the company’s stock, valued at approximately $1,253,495.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,872 shares of company stock worth $260,835. 12.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GME. Wedbush dropped their price objective on GameStop from $6.20 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, September 7th. StockNews.com began coverage on GameStop in a research report on Thursday, October 5th. They set a “sell” rating on the stock.

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.