GameStop (NYSE:GME) Stock: Insider Ryan Cohen Acquires 700,000 Shares

GameStop Corp. (NYSE:GME) CEO Ryan Cohen bought 700,000 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was purchased at an average cost of $24.41 per share, for a total transaction of $17,087,000.00. Following the completion of the acquisition, the chief executive officer owned 41,648,522 shares in the company, valued at $1,016,640,422.02. This trade represents a 1.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 29th, Ryan Cohen purchased 450,000 shares of GameStop stock. The shares were acquired at an average cost of $23.48 per share, for a total transaction of $10,566,000.00.
• On Monday, September 21st, Ryan Cohen acquired 1,150,680 shares of GameStop stock. The stock was acquired at an average price of $22.94 per share, for a total transaction of $26,396,599.20.
• 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, with a total value of $20,380,000.00.

GameStop Stock Performance

Shares of NYSE GME traded up $0.55 during midday trading on Friday, hitting $24.66. 13,032,869 shares of the company’s stock were exchanged, compared to its average volume of 7,352,325. The company has a quick ratio of 8.07, a current ratio of 8.72 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $12.44 billion, a PE ratio of 16.23 and a beta of 1.62. GameStop Corp. has a 12 month low of $17.79 and a 12 month high of $26.99. The company’s 50 day moving average price is $20.42 and its 200 day moving average price is $21.89.

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

Wall Street Analyst Weigh In

GME has been the topic of a number of research reports. Wall Street Zen lowered shares of GameStop from a “buy” rating to a “hold” rating in a research note on Monday, September 7th. Weiss Ratings restated a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, GameStop presently has an average rating of “Hold”.

Institutional Trading of GameStop

A number of institutional investors have recently bought and sold shares of GME. Rockefeller Capital Management L.P. boosted its holdings in GameStop by 805.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after purchasing an additional 2,014 shares during the period. Jupiter Topco LLC bought a new position in shares of GameStop during the second quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GameStop in the fourth quarter valued at approximately $54,000. Global Assets Advisory LLC acquired a new stake in shares of GameStop in the first quarter valued at approximately $60,000. Finally, CX Institutional boosted its stake in shares of GameStop by 537.1% in the second quarter. CX Institutional now owns 3,313 shares of the company’s stock valued at $73,000 after buying an additional 2,793 shares during the period. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.

GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.