GameStop (NYSE:GME) CEO Buys 1,150,680 Shares of Stock

by · The Cerbat Gem

GameStop Corp. (NYSE:GME – Get Free Report) CEO Ryan Cohen acquired 1,150,680 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was acquired at an average price of $22.94 per share, for a total transaction of $26,396,599.20. Following the completion of the transaction, the chief executive officer directly owned 40,498,522 shares in the company, valued at approximately $929,036,094.68. This represents a 2.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ryan Cohen also recently made the following trade(s):

  • On Thursday, September 10th, Ryan Cohen acquired 1,000,000 shares of GameStop stock. The stock was acquired at an average cost of $20.38 per share, for a total transaction of $20,380,000.00.

GameStop Price Performance

NYSE:GME traded up $0.18 during mid-day trading on Monday, hitting $22.82. 9,507,797 shares of the company’s stock traded hands, compared to its average volume of 7,121,107. The company has a debt-to-equity ratio of 0.68, a quick ratio of 8.07 and a current ratio of 8.72. The company has a market cap of $11.51 billion, a PE ratio of 15.01 and a beta of 1.72. The firm’s 50 day simple moving average is $20.03 and its 200 day simple moving average is $21.90. GameStop Corp. has a 1 year low of $17.79 and a 1 year high of $28.10.

GameStop (NYSE:GME – Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 EPS 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 business had revenue of $790.20 million for the quarter, compared to analyst estimates of $756.85 million. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s quarterly revenue was down 18.7% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GME. WINTON GROUP Ltd purchased a new position in shares of GameStop during the 2nd quarter worth $5,111,000. Sterling Investment Advisors Ltd. grew its position in shares of GameStop by 33.8% in the second quarter. Sterling Investment Advisors Ltd. now owns 18,316 shares of the company’s stock valued at $404,000 after purchasing an additional 4,627 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in GameStop in the second quarter valued at $1,866,000. AlphaGrep UK Ltd acquired a new position in GameStop in the second quarter valued at $708,000. Finally, Public Employees Retirement System of Ohio purchased a new position in GameStop during the second quarter worth about $2,578,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GME shares. Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of GameStop from a “buy” rating to a “hold” rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Read Our Latest Research Report on GameStop

About GameStop

(Get Free Report)

GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.

Founded in 1984 as Babbage’s, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.

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