Louisiana State Employees Retirement System Grows Stake in GameStop Corp. (NYSE:GME)

Louisiana State Employees Retirement System grew its holdings in GameStop Corp. (NYSE:GME) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,800 shares of the company’s stock after purchasing an additional 5,300 shares during the period. Louisiana State Employees Retirement System’s holdings in GameStop were worth $3,535,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after purchasing an additional 646,488 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of GameStop in the fourth quarter valued at approximately $878,000. Swiss National Bank raised its position in shares of GameStop by 46.0% in the third quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after purchasing an additional 249,100 shares during the period. Algert Global LLC raised its position in shares of GameStop by 270.5% in the third quarter. Algert Global LLC now owns 150,526 shares of the company’s stock valued at $3,452,000 after purchasing an additional 109,900 shares during the period. Finally, Retirement Systems of Alabama raised its position in shares of GameStop by 41.7% in the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock valued at $10,804,000 after purchasing an additional 138,597 shares during the period. Institutional investors own 29.21% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 895 shares of the stock in a transaction 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 transaction, the insider now owns 31,385 shares of the company’s stock, valued at $975,131.95. This represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

GameStop Trading Up 1.4 %

GameStop stock opened at $26.35 on Friday. The firm’s 50 day simple moving average is $28.99 and its 200 day simple moving average is $25.13. The firm has a market capitalization of $11.77 billion, a PE ratio of 146.37 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 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. The business had revenue of $860.30 million for 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 business’s revenue for the quarter was down 20.2% compared to the same quarter last year. Research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

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.