South Dakota Investment Council Acquires Shares of 76,809 GameStop Corp. $GME

South Dakota Investment Council bought a new position in shares of GameStop Corp. (NYSE:GME) during the third quarter, HoldingsChannel reports. The fund bought 76,809 shares of the company’s stock, valued at approximately $2,095,000.

A number of other institutional investors have also modified their holdings of GME. City Holding Co. purchased a new position in GameStop during the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after buying an additional 886 shares during the period. Bessemer Group Inc. grew its holdings in shares of GameStop by 39.2% during the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock worth $46,000 after buying an additional 471 shares during the last quarter. Hantz Financial Services Inc. increased its position in GameStop by 1,523.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company’s stock valued at $52,000 after acquiring an additional 1,996 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in GameStop by 83.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,036 shares of the company’s stock valued at $80,000 after acquiring an additional 1,379 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings raised GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $13.50.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 12,200 shares of GameStop stock in a transaction on Monday, January 12th. The stock was sold at an average price of $21.00, for a total transaction of $256,200.00. Following the completion of the transaction, the general counsel directly owned 105,155 shares of the company’s stock, valued at approximately $2,208,255. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel William Moore sold 5,477 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $20.44, for a total value of $111,949.88. Following the completion of the sale, the insider directly owned 108,224 shares in the company, valued at $2,212,098.56. This trade represents a 4.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 517,000 shares of company stock worth $10,925,150 and sold 23,152 shares worth $480,059. Insiders own 8.58% of the company’s stock.

GameStop Stock Performance

Shares of GME stock opened at $23.86 on Thursday. The stock has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $23.03. GameStop Corp. has a 12-month low of $19.93 and a 12-month high of $35.81. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 29.10 and a beta of 2.12. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78.

GameStop (NYSE:GME) last released its earnings results on Tuesday, December 9th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $821.00 million during the quarter, compared to the consensus estimate of $987.29 million. GameStop had a return on equity of 9.75% and a net margin of 11.08%.GameStop’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. On average, equities analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.