Retirement Systems of Alabama Purchases 22,899 Shares of GameStop Corp. (NYSE:GME)

Retirement Systems of Alabama grew its position in GameStop Corp. (NYSE:GME) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,055 shares of the company’s stock after acquiring an additional 22,899 shares during the quarter. Retirement Systems of Alabama owned 0.11% of GameStop worth $15,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its stake in GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of GameStop in the 4th quarter worth about $37,000. R Squared Ltd purchased a new stake in shares of GameStop during the 4th quarter valued at about $51,000. CWM LLC lifted its holdings in shares of GameStop by 19.9% in the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after acquiring an additional 529 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after acquiring an additional 1,414 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Trading Down 0.3 %

Shares of NYSE:GME opened at $24.72 on Friday. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 137.33 and a beta of -0.11. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The firm’s 50-day moving average is $29.12 and its 200 day moving average is $25.08.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop’s revenue was down 20.2% on a year-over-year basis. As a group, equities analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GME shares. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of GameStop in a report on Friday, December 6th.

Insider Transactions at GameStop

In other GameStop news, 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 transaction of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’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 completion of the sale, the general counsel now 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. Corporate insiders own 12.28% of the company’s stock.

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.