GameStop Corp. (NYSE:GME) Stake Boosted by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in GameStop Corp. (NYSE:GME) by 41.7% during the third quarter, HoldingsChannel reports. The fund owned 471,156 shares of the company’s stock after purchasing an additional 138,597 shares during the quarter. Retirement Systems of Alabama’s holdings in GameStop were worth $10,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GME. UMB Bank n.a. increased its position in GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after purchasing an additional 959 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in shares of GameStop in the 2nd quarter valued at approximately $47,000. CWM LLC increased its holdings in GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after buying an additional 1,426 shares during the last quarter. Quest Partners LLC raised its position in GameStop by 7,156.5% during the second quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after acquiring an additional 6,083 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in GameStop in the third quarter valued at approximately $171,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the sale, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the transaction, the insider now directly owns 37,280 shares of the company’s stock, valued at $818,668.80. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,639 shares of company stock valued at $481,000. Insiders own 12.28% of the company’s stock.

GameStop Trading Up 5.1 %

Shares of GameStop stock opened at $29.41 on Tuesday. The firm has a fifty day simple moving average of $25.12 and a 200-day simple moving average of $24.25. The stock has a market capitalization of $13.14 billion, a price-to-earnings ratio of 163.39 and a beta of -0.11. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83.

GameStop (NYSE:GME) last released its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. The firm had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, research analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research note on Friday, December 6th. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Saturday, October 19th.

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.