State of Alaska Department of Revenue Acquires 1,320 Shares of GameStop Corp. (NYSE:GME)

State of Alaska Department of Revenue raised its holdings in GameStop Corp. (NYSE:GME) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,647 shares of the company’s stock after acquiring an additional 1,320 shares during the quarter. State of Alaska Department of Revenue’s holdings in GameStop were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. boosted its position in shares of GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after purchasing an additional 520 shares in the last quarter. Securian Asset Management Inc. boosted its position in shares of GameStop by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock worth $963,000 after purchasing an additional 557 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of GameStop by 10.3% during the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company’s stock worth $139,000 after purchasing an additional 579 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of GameStop by 2.3% during the fourth quarter. Prudential Financial Inc. now owns 28,134 shares of the company’s stock worth $882,000 after purchasing an additional 640 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of GameStop by 10.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,658 shares of the company’s stock worth $209,000 after purchasing an additional 650 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Insider Buying and Selling at GameStop

In related news, CEO Ryan Cohen acquired 500,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $21.55 per share, with a total value of $10,775,000.00. Following the purchase, the chief executive officer now directly owns 37,347,842 shares in the company, valued at approximately $804,845,995.10. This trade represents a 1.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alain Attal acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average cost of $25.75 per share, with a total value of $257,500.00. Following the purchase, the director now owns 572,464 shares in the company, valued at $14,740,948. The trade was a 1.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 515,000 shares of company stock valued at $11,140,200 in the last quarter. Company insiders own 12.28% of the company’s stock.

GameStop Stock Up 1.2%

Shares of GME stock opened at $23.84 on Friday. The company has a current ratio of 8.39, a quick ratio of 7.89 and a debt-to-equity ratio of 0.30. GameStop Corp. has a 1 year low of $18.73 and a 1 year high of $35.81. The firm’s fifty day moving average price is $27.51 and its two-hundred day moving average price is $27.02. The firm has a market capitalization of $10.67 billion, a P/E ratio of 51.83 and a beta of -0.69.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.04 by $0.13. The business had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. GameStop had a net margin of 5.67% and a return on equity of 5.25%. GameStop’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, equities analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wedbush reissued an “underperform” rating and set a $13.50 price target on shares of GameStop in a research report on Wednesday, June 11th. Wall Street Zen raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

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.