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

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in GameStop Corp. (NYSE:GME) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,140 shares of the company’s stock, valued at approximately $130,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 646,488 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of GameStop in the 4th quarter valued at about $878,000. Swiss National Bank increased its stake in shares of GameStop by 46.0% in the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after acquiring an additional 249,100 shares during the last quarter. Algert Global LLC increased its stake in shares of GameStop by 270.5% in the 3rd quarter. Algert Global LLC now owns 150,526 shares of the company’s stock valued at $3,452,000 after acquiring an additional 109,900 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock valued at $10,804,000 after acquiring an additional 138,597 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at GameStop

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 transaction of $27,807.65. Following the completion of the transaction, the insider now directly owns 31,385 shares of the company’s stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This 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.

GameStop Stock Performance

NYSE GME opened at $26.02 on Thursday. The business has a 50 day simple moving average of $28.84 and a 200 day simple moving average of $25.28. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The stock has a market cap 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 (EPS) 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 business had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. GameStop’s revenue was down 20.2% on a year-over-year basis. On average, analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

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.