Principal Financial Group Inc. Trims Position in GameStop Corp. (NYSE:GME)

Principal Financial Group Inc. lessened its holdings in shares of GameStop Corp. (NYSE:GMEGet Rating) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 213,327 shares of the company’s stock after selling 3,516 shares during the quarter. Principal Financial Group Inc.’s holdings in GameStop were worth $31,655,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of GameStop by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 752,985 shares of the company’s stock worth $132,126,000 after purchasing an additional 78,453 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of GameStop by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 549,188 shares of the company’s stock worth $96,366,000 after purchasing an additional 50,855 shares during the period. Invesco Ltd. lifted its stake in shares of GameStop by 64.2% during the 3rd quarter. Invesco Ltd. now owns 383,827 shares of the company’s stock worth $67,349,000 after purchasing an additional 150,130 shares during the period. Credit Suisse AG lifted its stake in shares of GameStop by 100.8% during the 3rd quarter. Credit Suisse AG now owns 124,458 shares of the company’s stock worth $21,839,000 after purchasing an additional 62,462 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of GameStop by 5.9% during the 3rd quarter. California State Teachers Retirement System now owns 113,370 shares of the company’s stock worth $19,893,000 after purchasing an additional 6,343 shares during the period. 38.25% of the stock is currently owned by institutional investors.

GME stock opened at $98.39 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.24 and a current ratio of 1.92. The business has a fifty day simple moving average of $127.86 and a 200-day simple moving average of $142.93. GameStop Corp. has a 52 week low of $77.58 and a 52 week high of $344.66.

GameStop (NYSE:GMEGet Rating) last released its quarterly earnings data on Thursday, March 17th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($2.70). The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.22 billion. GameStop had a negative return on equity of 21.76% and a negative net margin of 6.34%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. Research analysts expect that GameStop Corp. will post -4.93 EPS for the current year.

GME has been the topic of a number of recent analyst reports. Wedbush reduced their price target on GameStop from $45.00 to $30.00 and set an “underperform” rating on the stock in a research note on Friday, March 18th. Zacks Investment Research downgraded GameStop from a “hold” rating to a “strong sell” rating and set a $80.00 price objective for the company. in a report on Tuesday, March 22nd.

In related news, CAO Diana Saadeh-Jajeh sold 743 shares of the stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $125.00, for a total value of $92,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alain Attal purchased 1,500 shares of the stock in a transaction that occurred on Thursday, March 24th. The stock was bought at an average price of $129.91 per share, with a total value of $194,865.00. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.

About GameStop (Get Rating)

GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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