KBC Group NV Acquires 6,382 Shares of GameStop Corp. (NYSE:GME)

KBC Group NV boosted its holdings in GameStop Corp. (NYSE:GME) by 56.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,596 shares of the company’s stock after purchasing an additional 6,382 shares during the period. KBC Group NV’s holdings in GameStop were worth $551,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after purchasing an additional 646,488 shares during the period. Swiss National Bank boosted its stake in GameStop by 46.0% in the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after buying an additional 249,100 shares in the last quarter. Algert Global LLC grew its position in GameStop by 270.5% in the third quarter. Algert Global LLC now owns 150,526 shares of the company’s stock valued at $3,452,000 after acquiring an additional 109,900 shares during the period. Retirement Systems of Alabama raised its stake in GameStop by 41.7% during the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after acquiring an additional 138,597 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of GameStop by 41.1% during the third quarter. MetLife Investment Management LLC now owns 200,234 shares of the company’s stock valued at $4,591,000 after acquiring an additional 58,356 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of GME opened at $27.05 on Monday. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 150.31 and a beta of -0.02. The stock has a fifty day moving average price of $29.53 and a two-hundred day moving average price of $25.10. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. The firm’s quarterly revenue was down 20.2% compared to the same quarter last year. As a group, research analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wedbush reaffirmed an “underperform” rating and issued a $10.00 target price on shares of GameStop in a report on Friday, December 6th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Saturday, October 19th.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

About GameStop

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.