State of New Jersey Common Pension Fund D Boosts Stock Position in GameStop Corp. (NYSE:GME)

State of New Jersey Common Pension Fund D boosted its holdings in GameStop Corp. (NYSE:GME) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,944 shares of the company’s stock after purchasing an additional 4,953 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GameStop were worth $4,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Christensen King & Associates Investment Services Inc. boosted its position in GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after purchasing an additional 518 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of GameStop by 2.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after buying an additional 523 shares during the last quarter. CWM LLC lifted its position in shares of GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after buying an additional 529 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of GameStop by 11.1% during the 4th quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock valued at $177,000 after buying an additional 566 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of GameStop by 0.4% during the 4th quarter. Yousif Capital Management LLC now owns 142,931 shares of the company’s stock valued at $4,479,000 after buying an additional 628 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analysts Set New Price Targets

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 Price Performance

Shares of NYSE GME opened at $26.02 on Thursday. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83. The business’s fifty day moving average price is $28.84 and its 200-day moving average price is $25.28. The stock has a market capitalization of $11.63 billion, a PE ratio of 144.57 and a beta of -0.11.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. The business 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%. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other GameStop 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 transaction, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. This represents a 3.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel William Moore sold 895 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 $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares in the company, 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 currently owned by insiders.

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.