GameStop Corp. (NYSE:GME) General Counsel Sells $105,598.11 in Stock

by · The Cerbat Gem

GameStop Corp. (NYSE:GME – Get Free Report) General Counsel Mark Haymond Robinson sold 4,687 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the sale, the general counsel now directly owns 37,663 shares in the company, valued at approximately $848,547.39. This trade represents a 11.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

GameStop Price Performance

GameStop stock traded up $2.24 during mid-day trading on Friday, reaching $23.34. 20,513,368 shares of the company traded hands, compared to its average volume of 20,155,003. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The firm has a market capitalization of $10.44 billion, a price-to-earnings 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 – Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. GameStop’s quarterly revenue was down 28.5% on a year-over-year basis. On average, sell-side analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after purchasing an additional 684 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in GameStop in the fourth quarter worth about $37,000. R Squared Ltd bought a new position in shares of GameStop during the fourth quarter valued at approximately $51,000. Bessemer Group Inc. lifted its holdings in shares of GameStop by 67.2% during the fourth 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. boosted its holdings in GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after acquiring an additional 682 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush set a $11.50 price objective on GameStop in a report on Wednesday, March 26th.

Get Our Latest Stock Analysis on GameStop

About GameStop

(Get Free Report)

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.

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