Insider Selling: GameStop Corp. (NYSE:GME) General Counsel Sells 4,687 Shares of Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 4,687 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $105,598.11. Following the sale, the general counsel now directly owns 37,663 shares of the company’s stock, valued at $848,547.39. This represents a 11.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GameStop Stock Performance

GME stock opened at $23.34 on Friday. The stock’s 50 day simple moving average is $24.83 and its 200 day simple moving average is $25.73. The company has a market cap of $10.44 billion, a P/E ratio of 129.68 and a beta of -0.29. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME) last issued 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 company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. Equities analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th.

Institutional Investors Weigh In On GameStop

Several hedge funds and other institutional investors have recently made changes to their positions in GME. California State Teachers Retirement System boosted its stake in GameStop by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 394,588 shares of the company’s stock valued at $12,366,000 after purchasing an additional 13,576 shares during the last quarter. United Advisor Group LLC boosted its position in shares of GameStop by 216.8% during the fourth quarter. United Advisor Group LLC now owns 42,740 shares of the company’s stock valued at $1,339,000 after buying an additional 29,250 shares during the last quarter. Forum Financial Management LP bought a new stake in GameStop during the fourth quarter worth $206,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in GameStop by 42.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,036,589 shares of the company’s stock valued at $32,487,000 after buying an additional 307,903 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in GameStop by 12.1% during the 4th quarter. Vident Advisory LLC now owns 31,384 shares of the company’s stock valued at $984,000 after acquiring an additional 3,387 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

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.