Global Retirement Partners LLC Sells 4,184 Shares of GameStop Corp. (NYSE:GME)

Global Retirement Partners LLC trimmed its stake in shares of GameStop Corp. (NYSE:GME) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,100 shares of the company’s stock after selling 4,184 shares during the quarter. Global Retirement Partners LLC’s holdings in GameStop were worth $128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new position in GameStop during the fourth quarter worth $130,000. CIBC Asset Management Inc boosted its position in GameStop by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock worth $294,000 after purchasing an additional 502 shares during the period. Sanctuary Advisors LLC boosted its position in GameStop by 8.0% during the fourth quarter. Sanctuary Advisors LLC now owns 10,833 shares of the company’s stock worth $340,000 after purchasing an additional 798 shares during the period. Principal Financial Group Inc. boosted its position in GameStop by 3.7% during the fourth quarter. Principal Financial Group Inc. now owns 930,765 shares of the company’s stock worth $29,170,000 after purchasing an additional 33,396 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of GameStop by 3.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 157,944 shares of the company’s stock worth $4,950,000 after buying an additional 4,953 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Stock Performance

GME opened at $24.62 on Thursday. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The company has a market capitalization of $11.00 billion, a P/E ratio of 136.80 and a beta of -0.11. The stock has a fifty day moving average of $28.47 and a 200-day moving average of $25.43.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping 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 company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, equities research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued an “underperform” rating and set a $10.00 target price on shares of GameStop in a report on Friday, December 6th.

Insider Activity at GameStop

In related news, insider Daniel William Moore sold 895 shares of the business’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 of the company’s stock, valued at $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

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.