GameStop (NYSE:GME) Stock: Insider Ryan Cohen Acquires 450,000 Shares

GameStop Corp. (NYSE:GME) CEO Ryan Cohen bought 450,000 shares of the stock in a transaction on Tuesday, September 29th. The stock was purchased at an average cost of $23.48 per share, for a total transaction of $10,566,000.00. Following the acquisition, the chief executive officer directly owned 40,948,522 shares of the company’s stock, valued at $961,471,296.56. The trade was a 1.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, September 21st, Ryan Cohen purchased 1,150,680 shares of GameStop stock. The stock was purchased at an average price of $22.94 per share, with a total value of $26,396,599.20.
• On Thursday, September 10th, Ryan Cohen purchased 1,000,000 shares of GameStop stock. The shares were purchased at an average cost of $20.38 per share, with a total value of $20,380,000.00.

GameStop Price Performance

Shares of GameStop stock traded down $0.22 on Tuesday, hitting $23.74. The company’s stock had a trading volume of 8,081,394 shares, compared to its average volume of 7,269,386. The company has a market capitalization of $11.98 billion, a P/E ratio of 15.62 and a beta of 1.72. GameStop Corp. has a 52-week low of $17.79 and a 52-week high of $28.10. The firm has a fifty day moving average price of $20.26 and a 200-day moving average price of $21.89. The company has a quick ratio of 8.07, a current ratio of 8.72 and a debt-to-equity ratio of 0.68.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $790.20 million during the quarter, compared to the consensus estimate of $756.85 million. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a research note on Wednesday, July 29th. Wall Street Zen lowered GameStop from a “buy” rating to a “hold” rating in a research note on Monday, September 7th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Hedge Funds Weigh In On GameStop

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

About GameStop

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.