Kentucky Retirement Systems Insurance Trust Fund Takes Position in GameStop Corp. (NYSE:GME)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in GameStop Corp. (NYSE:GME) in the 4th quarter, HoldingsChannel reports. The fund acquired 4,140 shares of the company’s stock, valued at approximately $130,000.

Several other large investors also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after buying an additional 3,070,571 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of GameStop by 41.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after buying an additional 1,852,088 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after buying an additional 646,488 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of GameStop by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock valued at $41,866,000 after buying an additional 136,785 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of GameStop by 4.2% in the 4th quarter. Rhumbline Advisers now owns 1,069,750 shares of the company’s stock valued at $33,526,000 after buying an additional 42,793 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by company insiders.

GameStop Price Performance

Shares of GameStop stock opened at $26.02 on Thursday. The business has a fifty day simple moving average of $28.84 and a two-hundred day simple moving average of $25.28. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 144.57 and a beta of -0.11.

GameStop (NYSE:GME) last posted 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. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. As a group, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an “underperform” rating and set a $10.00 price target on shares of GameStop in a report on Friday, December 6th.

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.