Insider Selling: GameStop (NYSE:GME) General Counsel Sells 12,200 Shares of Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 12,200 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $21.00, for a total value of $256,200.00. Following the sale, the general counsel owned 105,155 shares of the company’s stock, valued at $2,208,255. This trade represents a 10.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mark Haymond Robinson also recently made the following trade(s):

• On Friday, January 2nd, Mark Haymond Robinson sold 5,475 shares of GameStop stock. The stock was sold at an average price of $20.44, for a total value of $111,909.00.

GameStop Price Performance

Shares of GameStop stock traded up $0.03 on Tuesday, reaching $21.01. The stock had a trading volume of 4,100,202 shares, compared to its average volume of 4,726,150. The business’s 50 day moving average is $21.50 and its two-hundred day moving average is $22.93. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78. GameStop Corp. has a 1 year low of $19.93 and a 1 year high of $35.81. The company has a market cap of $9.41 billion, a P/E ratio of 25.62 and a beta of -1.23.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $987.29 million. GameStop had a net margin of 11.08% and a return on equity of 9.75%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. As a group, research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Institutional Trading of GameStop

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its stake in shares of GameStop by 347.7% during the second quarter. Marshall Wace LLP now owns 6,657,678 shares of the company’s stock valued at $162,381,000 after buying an additional 5,170,741 shares during the last quarter. Invesco Ltd. boosted its holdings in GameStop by 486.6% during the 2nd quarter. Invesco Ltd. now owns 3,858,024 shares of the company’s stock valued at $94,097,000 after acquiring an additional 3,200,321 shares during the period. Norges Bank purchased a new stake in GameStop during the 2nd quarter valued at about $76,701,000. Clear Street LLC bought a new position in GameStop during the 2nd quarter worth approximately $57,433,000. Finally, Van ECK Associates Corp increased its stake in GameStop by 58.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock worth $84,528,000 after purchasing an additional 1,141,215 shares during the period. 29.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of GameStop in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GameStop has a consensus rating of “Reduce” and a consensus target price of $13.50.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.