Handelsbanken Fonder AB Acquires 29,900 Shares of GameStop Corp. (NYSE:GME)

Handelsbanken Fonder AB increased its holdings in shares of GameStop Corp. (NYSE:GME) by 37.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,900 shares of the company’s stock after buying an additional 29,900 shares during the period. Handelsbanken Fonder AB’s holdings in GameStop were worth $3,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC increased its stake in 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 in the last quarter. Louisiana State Employees Retirement System increased its stake in GameStop by 41.1% in the third quarter. Louisiana State Employees Retirement System now owns 107,500 shares of the company’s stock valued at $2,465,000 after purchasing an additional 31,300 shares in the last quarter. State of Alaska Department of Revenue increased its stake in GameStop by 50.1% in the third quarter. State of Alaska Department of Revenue now owns 45,052 shares of the company’s stock valued at $1,033,000 after purchasing an additional 15,045 shares in the last quarter. New York State Teachers Retirement System increased its stake in GameStop by 5.4% in the third quarter. New York State Teachers Retirement System now owns 281,364 shares of the company’s stock valued at $6,452,000 after purchasing an additional 14,400 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of GameStop by 8.1% during the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock worth $41,866,000 after acquiring an additional 136,785 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Price Performance

Shares of GME stock opened at $26.41 on Monday. The stock has a market cap of $11.80 billion, a P/E ratio of 146.71 and a beta of -0.11. The company has a fifty day moving average price of $28.77 and a two-hundred day moving average price of $25.36. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.09. The company 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 firm’s revenue was down 20.2% compared to the same quarter last year. As a group, equities research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were 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 approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 895 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 transaction of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush reissued an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research 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.