Arizona State Retirement System Has $3.86 Million Stock Holdings in GameStop Corp. (NYSE:GME)

Arizona State Retirement System lifted its stake in shares of GameStop Corp. (NYSE:GME) by 5.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 123,104 shares of the company’s stock after buying an additional 6,515 shares during the quarter. Arizona State Retirement System’s holdings in GameStop were worth $3,858,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. M&T Bank Corp acquired a new stake in shares of GameStop during the 4th quarter worth about $200,000. Victory Capital Management Inc. lifted its stake in shares of GameStop by 5.2% during the 4th quarter. Victory Capital Management Inc. now owns 76,752 shares of the company’s stock worth $2,405,000 after buying an additional 3,770 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in GameStop by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after acquiring an additional 107,354 shares during the period. State of Michigan Retirement System increased its position in GameStop by 4.5% during the fourth quarter. State of Michigan Retirement System now owns 96,200 shares of the company’s stock worth $3,015,000 after acquiring an additional 4,100 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in 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 acquiring an additional 650 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Stock Performance

NYSE:GME opened at $24.00 on Friday. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 133.31 and a beta of -0.29. The firm’s 50-day simple moving average is $27.55 and its 200 day simple moving average is $25.54.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $887.68 million. GameStop’s quarterly revenue was down 20.2% on a year-over-year basis. Sell-side analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the transaction, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed an “underperform” rating and set 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.