GameStop (NYSE:GME) General Counsel Sells $158,517.54 in Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 7,083 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,517.54. Following the completion of the sale, the general counsel directly owned 108,147 shares of the company’s stock, valued at $2,420,329.86. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Mark Haymond Robinson sold 3,957 shares of GameStop stock. The shares were sold at an average price of $22.62, for a total value of $89,507.34.
• On Monday, April 13th, Mark Haymond Robinson sold 3,912 shares of GameStop stock. The stock was sold at an average price of $23.19, for a total value of $90,719.28.

GameStop Trading Down 2.3%

Shares of GameStop stock opened at $21.69 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 11.91 and a current ratio of 12.40. The stock has a market capitalization of $9.73 billion, a P/E ratio of 16.43 and a beta of 1.76. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $28.10. The stock’s 50-day simple moving average is $22.30 and its 200 day simple moving average is $22.84.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. The company had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in GameStop by 189.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock worth $90,046,000 after acquiring an additional 2,557,079 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of GameStop by 376.2% during the first quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock worth $61,063,000 after purchasing an additional 2,093,755 shares in the last quarter. Van ECK Associates Corp increased its position in shares of GameStop by 58.3% in the third quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock worth $84,528,000 after purchasing an additional 1,141,215 shares during the last quarter. Clear Street Group Inc. bought a new position in shares of GameStop in the third quarter worth approximately $29,971,000. Finally, Jump Financial LLC purchased a new stake in GameStop in the fourth quarter valued at approximately $7,022,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GME has been the topic of a number of analyst reports. Wall Street Zen upgraded GameStop from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings upgraded GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

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.