GameStop (NYSE:GME) General Counsel Sells $122,703.42 in Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 4,449 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $122,703.42. Following the transaction, the general counsel directly owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mark Haymond Robinson also recently made the following trade(s):

• On Thursday, July 24th, Mark Haymond Robinson sold 30 shares of GameStop stock. The shares were sold at an average price of $23.81, for a total value of $714.30.
• On Wednesday, July 23rd, Mark Haymond Robinson sold 11,055 shares of GameStop stock. The shares were sold at an average price of $24.18, for a total value of $267,309.90.

GameStop Price Performance

Shares of NYSE GME opened at $25.40 on Friday. The stock has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $25.20. GameStop Corp. has a 1-year low of $20.30 and a 1-year high of $35.81. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 34.79 and a beta of -0.86. The company has a current ratio of 11.37, a quick ratio of 10.79 and a debt-to-equity ratio of 0.80.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The business had revenue of $972.20 million during the quarter, compared to analyst estimates of $823.25 million. During the same period in the prior year, the company earned $0.04 earnings per share. GameStop’s revenue was up 21.8% compared to the same quarter last year. Analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On GameStop

A number of institutional investors and hedge funds have recently made changes to their positions in GME. Thrivent Financial for Lutherans lifted its holdings in shares of GameStop by 0.5% during the second quarter. Thrivent Financial for Lutherans now owns 96,623 shares of the company’s stock valued at $2,357,000 after purchasing an additional 511 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in GameStop by 1.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 30,761 shares of the company’s stock worth $750,000 after acquiring an additional 576 shares during the last quarter. Fifth Third Bancorp raised its holdings in GameStop by 10.3% in the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company’s stock worth $139,000 after acquiring an additional 579 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in GameStop by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 114,500 shares of the company’s stock worth $2,793,000 after acquiring an additional 600 shares during the last quarter. Finally, State of Michigan Retirement System raised its holdings in GameStop by 0.6% in the 2nd quarter. State of Michigan Retirement System now owns 97,900 shares of the company’s stock worth $2,388,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wedbush upgraded GameStop to a “strong sell” rating in a research report on Tuesday, July 1st. Weiss Ratings restated a “hold (c-)” rating on shares of GameStop in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, GameStop has a consensus rating of “Reduce” and an average price target of $13.50.

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.