Insider Selling: GameStop Corp. (NYSE:GME) Insider Sells 2,624 Shares of Stock

GameStop Corp. (NYSE:GME) insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total transaction of $55,104.00. Following the transaction, the insider now directly owns 32,280 shares in the company, valued at $677,880. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Daniel William Moore also recently made the following trade(s):

• On Monday, October 7th, Daniel William Moore sold 2,376 shares of GameStop stock. The shares were sold at an average price of $21.50, for a total transaction of $51,084.00.
• On Wednesday, October 2nd, Daniel William Moore sold 1,972 shares of GameStop stock. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12.

GameStop Stock Performance

Shares of GameStop stock traded down $0.05 on Tuesday, reaching $21.28. The stock had a trading volume of 4,824,993 shares, compared to its average volume of 20,642,631. The business’s 50-day moving average price is $21.74 and its two-hundred day moving average price is $21.32. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The stock has a market cap of $7.47 billion, a P/E ratio of 263.75 and a beta of -0.19.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. The firm had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. As a group, equities analysts forecast that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on GME shares. Wedbush decreased their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Wednesday, September 25th.

Hedge Funds Weigh In On GameStop

Several large investors have recently bought and sold shares of GME. Virtu Financial LLC acquired a new position in GameStop during the 4th quarter valued at $316,000. Wellington Management Group LLP increased its holdings in GameStop by 312.2% in the 4th quarter. Wellington Management Group LLP now owns 77,097 shares of the company’s stock valued at $1,352,000 after buying an additional 58,394 shares during the period. Vanguard Group Inc. increased its holdings in GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after buying an additional 167,145 shares during the period. PNC Financial Services Group Inc. increased its holdings in GameStop by 21.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,025 shares of the company’s stock valued at $211,000 after buying an additional 2,105 shares during the period. Finally, State of Michigan Retirement System increased its holdings in GameStop by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock valued at $826,000 after buying an additional 1,600 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

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.