GameStop Corp. (NYSE:GME) Insider Sells $43,305.12 in Stock

GameStop Corp. (NYSE:GME) insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

GameStop Stock Performance

GME traded down $0.29 during mid-day trading on Thursday, reaching $21.20. 4,654,160 shares of the stock were exchanged, compared to its average volume of 21,299,648. The stock has a market capitalization of $7.45 billion, a PE ratio of 265.00 and a beta of -0.17. The company has a 50 day moving average price of $21.99 and a two-hundred day moving average price of $20.87. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Sell-side analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC lifted its holdings in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in shares of GameStop in the second quarter worth about $47,000. GAMMA Investing LLC lifted its holdings in shares of GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after buying an additional 511 shares in the last quarter. CWM LLC lifted its holdings in shares of GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after buying an additional 1,426 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after buying an additional 3,025 shares in the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on GME. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Wednesday, September 25th. Wedbush cut their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th.

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.