Principal Financial Group Inc. Raises Stock Position in GameStop Corp. (NYSE:GME)

Principal Financial Group Inc. raised its position in shares of GameStop Corp. (NYSE:GME - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 930,765 shares of the company's stock after acquiring an additional 33,396 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of GameStop worth $29,170,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. CWM LLC increased its holdings in shares of GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company's stock valued at $73,000 after purchasing an additional 529 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of GameStop by 41.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 107,500 shares of the company's stock valued at $2,465,000 after acquiring an additional 31,300 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of GameStop by 50.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 45,052 shares of the company's stock valued at $1,033,000 after acquiring an additional 15,045 shares during the period. New York State Teachers Retirement System boosted its position in GameStop by 5.4% during the third quarter. New York State Teachers Retirement System now owns 281,364 shares of the company's stock worth $6,452,000 after purchasing an additional 14,400 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of GameStop by 8.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company's stock worth $41,866,000 after purchasing an additional 136,785 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Analysts Set New Price Targets

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

GameStop Stock Performance

NYSE GME traded up $0.60 on Wednesday, hitting $25.02. The stock had a trading volume of 1,766,035 shares, compared to its average volume of 6,366,136. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 139.21 and a beta of -0.11. The firm has a 50-day moving average of $28.55 and a 200-day moving average of $25.44.

GameStop (NYSE:GME - Get Free Report) last posted 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. The firm had revenue of $860.30 million for the quarter, compared to analysts' expectations of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop's revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares of the company's stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel William Moore sold 895 shares of the 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 transaction, the insider now owns 31,385 shares of the company's stock, valued at $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

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.