Principal Financial Group Inc. Purchases 33,553 Shares of GameStop Corp. $GME

Principal Financial Group Inc. increased its position in shares of GameStop Corp. (NYSE:GME) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 919,960 shares of the company’s stock after purchasing an additional 33,553 shares during the period. Principal Financial Group Inc.’s holdings in GameStop were worth $21,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in GameStop by 312.2% in the first quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock worth $623,000 after acquiring an additional 22,297 shares during the period. Goldman Sachs Group Inc. grew its holdings in GameStop by 33.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock worth $5,851,000 after acquiring an additional 65,325 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GameStop by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock valued at $25,255,000 after purchasing an additional 94,892 shares during the period. American Century Companies Inc. increased its position in GameStop by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock valued at $865,000 after purchasing an additional 2,162 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after purchasing an additional 886 shares during the period. 29.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of GameStop from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, GameStop has an average rating of “Hold”.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 7,085 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,562.30. Following the sale, the insider directly owned 115,125 shares in the company, valued at approximately $2,576,497.50. This trade represents a 5.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 7,083 shares of GameStop stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,517.54. Following the completion of the transaction, the general counsel directly owned 108,147 shares in the company, valued at approximately $2,420,329.86. The trade was a 6.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,125 shares of company stock valued at $406,587 over the last quarter. 9.50% of the stock is currently owned by corporate insiders.

GameStop Trading Down 0.1%

GME opened at $21.74 on Wednesday. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 16.47 and a beta of 1.76. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $28.10. The stock has a fifty day moving average price of $21.89 and a 200-day moving average price of $22.89.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The company had revenue of $835.30 million for the quarter, compared to the consensus estimate of $766.63 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year.

GameStop Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.