Insider Buying: GameStop (NYSE:GME) Director Purchases 5,000 Shares of Stock

GameStop Corp. (NYSE:GME) Director Lawrence Cheng purchased 5,000 shares of the stock in a transaction on Friday, January 23rd. The shares were acquired at an average cost of $22.87 per share, with a total value of $114,350.00. Following the transaction, the director directly owned 88,000 shares in the company, valued at $2,012,560. The trade was a 6.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

GameStop Trading Up 1.5%

NYSE GME traded up $0.35 during trading on Monday, hitting $23.34. The company had a trading volume of 2,289,837 shares, compared to its average volume of 6,200,664. The company’s fifty day moving average is $21.56 and its 200-day moving average is $22.83. GameStop Corp. has a one year low of $19.93 and a one year high of $35.81. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 28.54 and a beta of -1.23.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $821.00 million for the quarter, compared to analyst estimates of $987.29 million. GameStop had a return on equity of 9.75% and a net margin of 11.08%.The firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, sell-side analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut GameStop from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 16th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell” and a consensus target price of $13.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new stake in shares of GameStop during the 4th quarter valued at about $74,000. Swiss Life Asset Management Ltd raised its position in GameStop by 78.2% in the third quarter. Swiss Life Asset Management Ltd now owns 19,616 shares of the company’s stock worth $535,000 after acquiring an additional 8,606 shares during the period. Danske Bank A S purchased a new position in shares of GameStop during the 3rd quarter worth $87,000. Advisory Services Network LLC purchased a new position in shares of GameStop during the 3rd quarter worth $39,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of GameStop by 0.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 297,807 shares of the company’s stock valued at $8,096,000 after acquiring an additional 1,385 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

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.