Treasurer of the State of North Carolina Buys 8,870 Shares of GameStop Corp. (NYSE:GME)

Treasurer of the State of North Carolina grew its stake in GameStop Corp. (NYSE:GME) by 5.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,566 shares of the company’s stock after purchasing an additional 8,870 shares during the quarter. Treasurer of the State of North Carolina’s holdings in GameStop were worth $5,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in GameStop by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock worth $1,226,775,000 after buying an additional 2,036,032 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GameStop by 41.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock worth $144,009,000 after acquiring an additional 1,852,088 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of GameStop by 46.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company’s stock valued at $17,750,000 after purchasing an additional 244,339 shares during the period. Amundi purchased a new position in shares of GameStop in the 4th quarter valued at approximately $5,332,000. Finally, Retirement Systems of Alabama grew its stake in GameStop by 41.7% in the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after purchasing an additional 138,597 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Stock Up 2.1 %

GME stock opened at $26.96 on Tuesday. The business has a 50 day moving average of $24.55 and a 200 day moving average of $25.92. The firm has a market cap of $12.05 billion, a PE ratio of 149.79 and a beta of -0.44. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis. On average, research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, Director Lawrence Cheng purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $21.54 per share, for a total transaction of $107,700.00. Following the completion of the purchase, the director now directly owns 83,000 shares of the company’s stock, valued at $1,787,820. This trade represents a 6.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 515,000 shares of company stock valued at $11,140,200. Insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

GME has been the subject of several recent research reports. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a research note on Wednesday, March 26th.

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.