Handelsbanken Fonder AB Buys 13,900 Shares of GameStop Corp. (NYSE:GME)

Handelsbanken Fonder AB boosted its stake in shares of GameStop Corp. (NYSE:GME) by 21.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the company’s stock after buying an additional 13,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in GameStop were worth $1,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after purchasing an additional 209,861 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of GameStop by 34.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after purchasing an additional 342,178 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of GameStop by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock valued at $12,662,000 after purchasing an additional 25,159 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of GameStop by 0.3% in the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GME has been the subject of several recent research reports. Wedbush reduced their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Wednesday, September 25th.

GameStop Stock Up 2.0 %

Shares of GameStop stock opened at $20.91 on Friday. The firm’s 50 day moving average price is $21.75 and its 200-day moving average price is $21.13. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The company has a market cap of $7.34 billion, a P/E ratio of 261.31 and a beta of -0.19.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. As a group, equities research analysts forecast that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 2,376 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $21.50, for a total transaction of $51,084.00. Following the sale, the insider now owns 34,904 shares of the company’s stock, valued at approximately $750,436. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the sale, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 2,376 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $21.50, for a total transaction of $51,084.00. Following the completion of the sale, the insider now directly owns 34,904 shares in the company, valued at $750,436. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,015 shares of company stock valued at $196,876. Insiders own 12.28% of the company’s stock.

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.