GameStop (NYSE:GME) Shares Down 3.9% After Insider Selling

GameStop Corp. (NYSE:GME) was down 3.9% during trading on Monday following insider selling activity. The stock traded as low as $11.31 and last traded at $11.43. 1,803,283 shares were traded during trading, a decline of 53% from the average session volume of 3,822,200 shares. The stock had previously closed at $11.90.

Specifically, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the sale, the general counsel now directly owns 50,837 shares of the company’s stock, valued at approximately $515,995.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Cheng purchased 10,000 shares of GameStop stock in a transaction that occurred on Monday, April 8th. The shares were bought at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the transaction, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Insiders sold a total of 27,207 shares of company stock worth $285,048 over the last ninety days. 12.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush lowered their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th.

GameStop Stock Down 1.8 %

The firm has a fifty day simple moving average of $12.73 and a 200-day simple moving average of $13.98. The company has a market capitalization of $3.39 billion, a PE ratio of 554.53 and a beta of -0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a return on equity of 1.35% and a net margin of 0.13%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm posted $0.16 earnings per share. GameStop’s revenue was down 19.4% compared to the same quarter last year. Equities research analysts anticipate that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in GameStop by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company’s stock worth $416,160,000 after purchasing an additional 345,488 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after acquiring an additional 289,947 shares during the last quarter. Barclays PLC boosted its holdings in GameStop by 133.3% in the third quarter. Barclays PLC now owns 346,830 shares of the company’s stock valued at $5,710,000 after acquiring an additional 198,140 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in GameStop by 844.8% in the third quarter. Canada Pension Plan Investment Board now owns 191,800 shares of the company’s stock valued at $3,157,000 after acquiring an additional 171,500 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in GameStop by 11.1% in the first quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after purchasing an additional 147,655 shares during the period. 29.21% of the stock is owned by institutional investors.

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.