Retirement Systems of Alabama Buys 1,567 Shares of GameStop Corp. (NYSE:GME)

Retirement Systems of Alabama grew its stake in shares of GameStop Corp. (NYSE:GME) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,422 shares of the company’s stock after acquiring an additional 1,567 shares during the quarter. Retirement Systems of Alabama’s holdings in GameStop were worth $5,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of GameStop by 175.6% during the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after acquiring an additional 1,819 shares in the last quarter. Headlands Technologies LLC bought a new stake in GameStop in the 4th quarter worth about $55,000. Handelsinvest Investeringsforvaltning bought a new stake in GameStop in the 4th quarter worth about $184,000. Algert Global LLC bought a new stake in GameStop in the 3rd quarter worth about $191,000. Finally, Revisor Wealth Management LLC bought a new stake in GameStop in the 3rd quarter worth about $213,000. 29.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Lawrence Cheng acquired 10,000 shares of the stock in a transaction dated Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, with a total value of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares in the company, valued at $746,615.88. The disclosure for this sale can be found here. Insiders sold a total of 27,207 shares of company stock worth $285,048 in the last three months. 12.64% of the stock is currently owned by company insiders.

GameStop Price Performance

NYSE GME opened at $16.47 on Monday. The stock has a 50-day moving average of $12.73 and a 200 day moving average of $13.97. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 823.91 and a beta of -0.25. GameStop Corp. has a one year low of $9.95 and a one year high of $27.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wedbush reduced their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a report on Wednesday, March 27th. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th.

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.