GameStop Corp. (NYSE:GME) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in GameStop Corp. (NYSE:GME - Free Report) by 41.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,156 shares of the company's stock after purchasing an additional 138,597 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of GameStop worth $10,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased 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 worth $26,000 after acquiring an additional 959 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in GameStop in the 2nd quarter valued at approximately $47,000. CWM LLC raised its position in GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company's stock valued at $66,000 after purchasing an additional 1,426 shares during the period. Quest Partners LLC lifted its stake in GameStop by 7,156.5% during the second quarter. Quest Partners LLC now owns 6,168 shares of the company's stock worth $152,000 after purchasing an additional 6,083 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of GameStop during the third quarter worth $171,000. Institutional investors and hedge funds own 29.21% of the company's stock.

Analyst Upgrades and Downgrades

GME has been the topic of several recent research reports. StockNews.com upgraded GameStop to a "sell" rating in a report on Saturday, October 19th. Wedbush reissued an "underperform" rating and issued a $10.00 target price on shares of GameStop in a report on Friday, December 6th.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 11,000 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now owns 43,927 shares of the company's stock, valued at approximately $914,560.14. The trade was a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 1,972 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the sale, the insider now directly owns 37,280 shares of the company's stock, valued at approximately $818,668.80. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is currently owned by company insiders.

GameStop Trading Up 6.3 %

GME stock traded up $1.85 during trading on Tuesday, hitting $31.29. 19,886,776 shares of the company's stock were exchanged, compared to its average volume of 18,996,260. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 175.67 and a beta of -0.11. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The business has a 50-day moving average price of $25.12 and a two-hundred day moving average price of $24.25.

GameStop (NYSE:GME - Get Free Report) last issued its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $860.30 million during the quarter, compared to analysts' expectations of $887.68 million. The company's revenue was down 20.2% on a year-over-year basis. On average, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

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.