Van ECK Associates Corp Acquires 100,084 Shares of GameStop Corp. (NYSE:GME)

Van ECK Associates Corp boosted its position in GameStop Corp. (NYSE:GME) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,331,536 shares of the company’s stock after acquiring an additional 100,084 shares during the period. Van ECK Associates Corp’s holdings in GameStop were worth $23,342,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its holdings in GameStop by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 336,422 shares of the company’s stock valued at $5,897,000 after acquiring an additional 1,567 shares during the last quarter. Headlands Technologies LLC bought a new position in GameStop in the fourth quarter valued at about $55,000. State of New Jersey Common Pension Fund D boosted its holdings in GameStop by 14.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 185,508 shares of the company’s stock valued at $3,252,000 after acquiring an additional 23,500 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in GameStop by 27.1% in the fourth quarter. Handelsbanken Fonder AB now owns 62,300 shares of the company’s stock valued at $1,092,000 after acquiring an additional 13,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in GameStop by 37.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,728 shares of the company’s stock valued at $1,082,000 after acquiring an additional 16,720 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Price Performance

Shares of GME opened at $11.09 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. The stock has a 50 day simple moving average of $12.73 and a 200 day simple moving average of $13.98. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $27.65. The firm has a market capitalization of $3.39 billion, a PE ratio of 554.53 and a beta of -0.45.

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

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Daniel William Moore sold 7,779 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the sale, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,207 shares of company stock worth $285,048. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush reduced their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday, March 27th.

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.