Retirement Systems of Alabama Acquires 22,899 Shares of GameStop Corp. (NYSE:GME)

Retirement Systems of Alabama increased its holdings in GameStop Corp. (NYSE:GME) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 494,055 shares of the company’s stock after buying an additional 22,899 shares during the period. Retirement Systems of Alabama’s holdings in GameStop were worth $15,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Rice Partnership LLC bought a new position in shares of GameStop in the 4th quarter worth $250,000. New Wave Wealth Advisors LLC bought a new position in GameStop in the fourth quarter worth about $37,000. Masso Torrence Wealth Management Inc. bought a new stake in shares of GameStop in the 4th quarter valued at about $251,000. R Squared Ltd purchased a new position in shares of GameStop in the 4th quarter worth approximately $51,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of GameStop during the 4th quarter worth approximately $878,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Down 0.3 %

GME opened at $24.72 on Friday. The company has a market cap of $11.04 billion, a P/E ratio of 137.33 and a beta of -0.11. The firm’s 50-day moving average price is $29.12 and its 200-day moving average price is $25.08. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83.

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

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 1,577 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 value of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares in the company, 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 SEC, which is available through the SEC website. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares in the company, valued at approximately $975,131.95. This represents 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.

Wall Street Analyst Weigh In

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

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.