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 stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the completion of the sale, the general counsel now directly owns 37,663 shares of the company’s stock, valued at approximately $848,547.39. This represents a 11.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

GameStop Stock Performance

GME stock opened at $23.34 on Friday. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83. The firm has a market cap of $10.44 billion, a PE ratio of 129.68 and a beta of -0.29. The firm’s 50 day moving average price is $24.83 and its 200-day moving average price is $25.69.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on GME shares. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush set a $11.50 price objective on shares of GameStop in a research report on Wednesday, March 26th.

Institutional Trading of GameStop

Several institutional investors and hedge funds have recently bought and sold shares of GME. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after buying an additional 684 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of GameStop in the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in shares of GameStop during the 4th quarter worth approximately $51,000. Bessemer Group Inc. increased its holdings in GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. Finally, UMB Bank n.a. raised its position in GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares during the period. 29.21% of the stock is currently owned by hedge funds and other 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.