GameStop (NYSE:GME) General Counsel Sells 7,296 Shares of Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Robinson sold 7,296 shares of GameStop stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $24.26, for a total value of $177,000.96. Following the transaction, the general counsel owned 96,894 shares of the company’s stock, valued at approximately $2,350,648.44. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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, October 5th, Mark Robinson sold 3,882 shares of GameStop stock. The stock was sold at an average price of $25.42, for a total value of $98,680.44.

GameStop Stock Performance

Shares of NYSE GME traded up $0.65 during midday trading on Monday, reaching $25.35. 11,927,161 shares of the stock were exchanged, compared to its average volume of 10,119,756. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 16.68 and a beta of 1.63. GameStop Corp. has a twelve month low of $17.79 and a twelve month high of $26.88. The firm has a 50-day simple moving average of $20.56 and a two-hundred day simple moving average of $21.91. The company has a quick ratio of 8.07, a current ratio of 8.72 and a debt-to-equity ratio of 0.68.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The firm had revenue of $790.20 million during the quarter, compared to analyst estimates of $756.85 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s quarterly revenue was down 18.7% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew 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 valued at $90,046,000 after acquiring an additional 2,557,079 shares during the period. Renaissance Technologies LLC raised its position in 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 acquiring an additional 2,093,755 shares during the period. Pacer Advisors Inc. raised its position in GameStop by 19.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,112,535 shares of the company’s stock worth $22,340,000 after acquiring an additional 180,356 shares during the period. Principal Financial Group Inc. lifted its holdings in GameStop by 3.8% during the first quarter. Principal Financial Group Inc. now owns 919,960 shares of the company’s stock valued at $21,196,000 after purchasing an additional 33,553 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in GameStop by 0.4% during the first quarter. Swiss National Bank now owns 842,328 shares of the company’s stock valued at $19,407,000 after purchasing an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of GameStop from a “buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings restated a “hold (c)” rating on shares of GameStop in a research report on Wednesday, July 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, GameStop presently has an average rating of “Hold”.

About GameStop

GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.

GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.