State of New Jersey Common Pension Fund D Buys 23,500 Shares of GameStop Corp. (NYSE:GME)

State of New Jersey Common Pension Fund D grew its stake in GameStop Corp. (NYSE:GME) by 14.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 185,508 shares of the company’s stock after acquiring an additional 23,500 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GameStop were worth $3,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GME. IFP Advisors Inc raised its position in shares of GameStop by 99.7% in the third quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock valued at $45,000 after purchasing an additional 1,352 shares during the period. Fifth Third Bancorp raised its position in shares of GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after purchasing an additional 1,819 shares during the period. Exchange Traded Concepts LLC raised its position in shares of GameStop by 278.9% in the third quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company’s stock valued at $108,000 after purchasing an additional 4,834 shares during the period. Handelsinvest Investeringsforvaltning bought a new position in GameStop during the fourth quarter worth about $184,000. Finally, Algert Global LLC bought a new position in GameStop during the third quarter worth about $191,000. 29.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the sale, the general counsel now directly owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the sale, the insider now directly owns 13,606 shares in the company, valued at approximately $138,781.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the sale, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The disclosure for this sale can be found here. Insiders have sold 27,207 shares of company stock worth $285,048 over the last ninety days. Corporate insiders own 12.64% of the company’s stock.

GameStop Price Performance

NYSE:GME opened at $11.90 on Friday. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $27.65. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 595.30 and a beta of -0.45. The firm’s 50-day simple moving average is $12.84 and its 200 day simple moving average is $14.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. GameStop’s revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, sell-side analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Wedbush lowered their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop 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.