KLP Kapitalforvaltning AS Invests $2.68 Million in GameStop Corp. (NYSE:GME)

KLP Kapitalforvaltning AS bought a new stake in GameStop Corp. (NYSE:GME) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,467 shares of the company’s stock, valued at approximately $2,679,000.

A number of other large investors also recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new stake in GameStop in the 4th quarter valued at about $37,000. R Squared Ltd purchased a new stake in shares of GameStop during the fourth quarter valued at approximately $51,000. UMB Bank n.a. lifted its holdings in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after acquiring an additional 682 shares during the period. SBI Securities Co. Ltd. purchased a new position in GameStop in the fourth quarter worth $99,000. Finally, GAMMA Investing LLC grew its stake in GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after purchasing an additional 1,414 shares during the period. 29.21% of the stock is owned by institutional investors.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was 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 $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an “underperform” rating and issued a $10.00 price target on shares of GameStop in a report on Monday.

GameStop Stock Up 11.7 %

Shares of GME stock opened at $28.38 on Thursday. The firm has a market cap of $12.68 billion, a P/E ratio of 157.68 and a beta of -0.29. The company has a 50 day moving average of $25.59 and a 200-day moving average of $25.69. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83.

GameStop (NYSE:GME) last released its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. As a group, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

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.