Handelsbanken Fonder AB Increases Stock Position in GameStop Corp. (NYSE:GME)

Handelsbanken Fonder AB grew its position in GameStop Corp. (NYSE:GME) by 37.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 109,900 shares of the company’s stock after purchasing an additional 29,900 shares during the period. Handelsbanken Fonder AB’s holdings in GameStop were worth $3,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of GameStop in the fourth quarter valued at about $37,000. R Squared Ltd purchased a new stake in shares of GameStop in the fourth quarter valued at about $51,000. UMB Bank n.a. raised its holdings in shares of GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares during the last quarter. CWM LLC raised its holdings in shares of GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after purchasing an additional 1,414 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

GME opened at $26.41 on Monday. The firm has a market cap of $11.80 billion, a P/E ratio of 146.71 and a beta of -0.11. The firm has a 50-day moving average of $28.77 and a 200 day moving average of $25.36. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME) last issued 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% compared to the same quarter last year. Equities research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 895 shares of the firm’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 transaction, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’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 transaction of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

GameStop Company 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.