Handelsbanken Fonder AB Raises Holdings in GameStop Corp. (NYSE:GME)

Handelsbanken Fonder AB lifted its position in GameStop Corp. (NYSE:GME - Free Report) by 37.4% during the fourth quarter, according to the company in its most recent 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GME. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in GameStop in the fourth quarter worth about $130,000. CIBC Asset Management Inc lifted its stake in shares of GameStop by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock worth $294,000 after purchasing an additional 502 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of GameStop by 8.0% in the 4th quarter. Sanctuary Advisors LLC now owns 10,833 shares of the company's stock worth $340,000 after purchasing an additional 798 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of GameStop by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 930,765 shares of the company's stock worth $29,170,000 after buying an additional 33,396 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in GameStop by 3.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 157,944 shares of the company's stock valued at $4,950,000 after buying an additional 4,953 shares during the period. Institutional investors own 29.21% of the company's stock.

GameStop Stock Down 1.6 %

NYSE:GME traded down $0.40 during mid-day trading on Tuesday, hitting $24.60. 5,636,707 shares of the company traded hands, compared to its average volume of 6,468,432. The stock's fifty day moving average price is $28.68 and its 200-day moving average price is $25.42. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 135.76 and a beta of -0.11. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The firm's revenue for the quarter was down 20.2% on a year-over-year basis. Equities analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the company's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 12.28% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush reiterated an "underperform" rating and issued a $10.00 price target on shares of GameStop in a research report on Friday, December 6th.

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.