Alain Attal Buys 5,000 Shares of GameStop (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) Director Alain Attal purchased 5,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $100,000.00. Following the transaction, the director directly owned 601,464 shares in the company, valued at approximately $12,029,280. This represents a 0.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

GameStop Stock Performance

GME stock opened at $21.11 on Friday. GameStop Corp. has a 1-year low of $17.79 and a 1-year high of $28.10. The business has a 50-day moving average price of $20.03 and a 200 day moving average price of $21.98. The company has a market capitalization of $10.65 billion, a P/E ratio of 13.89 and a beta of 1.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.72 and a quick ratio of 11.91.

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

GameStop News Summary

Here are the key news stories impacting GameStop this week:

• Positive Sentiment: CEO and Chairman Ryan Cohen purchased 1 million GameStop shares at an average price of approximately $20.38, committing about $20.4 million and raising his direct ownership to more than 39.3 million shares. The purchase is being viewed as a significant vote of confidence in GME’s valuation and strategy. GameStop CEO insider purchase
• Positive Sentiment: Director Alain Attal bought 5,000 shares for $100,000, increasing his stake to 601,464 shares. The purchase adds to a recent cluster of insider buying, including Director James Grube’s acquisition of 10,255 shares for roughly $196,000. Alain Attal GameStop share purchase
• Positive Sentiment: GameStop announced that select previously closed stores are reopening nationwide. The move suggests management sees potential for improved retail traffic and demand, while recent collectibles growth offers a possible avenue for diversification beyond traditional video-game sales. GameStop store reopenings
• Neutral Sentiment: An analyst rating upgrade described GameStop as more interesting following its earnings and insider activity, but broader analyst coverage remains cautious, with the average rating still at Hold. GameStop rating upgrade
• Negative Sentiment: GameStop’s latest quarterly revenue of $790.2 million exceeded estimates, and EPS matched consensus at $0.27, but revenue declined 18.7% year over year and EPS fell from $0.31. Weak software and hardware sales continue to challenge the turnaround, while analysts question whether collectibles growth can offset the contraction. GameStop earnings and outlook

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GME shares. Wall Street Zen downgraded shares of GameStop from a “buy” rating to a “hold” rating in a research note on Monday, September 7th. Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On GameStop

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC raised its holdings in GameStop by 0.5% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 92,197 shares of the company’s stock worth $1,851,000 after purchasing an additional 463 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of GameStop by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 131,002 shares of the company’s stock valued at $3,574,000 after buying an additional 578 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of GameStop by 4.5% in the 4th quarter. Panagora Asset Management Inc. now owns 13,692 shares of the company’s stock valued at $275,000 after buying an additional 594 shares in the last quarter. UMB Bank n.a. grew its position in shares of GameStop by 14.5% in the 4th quarter. UMB Bank n.a. now owns 4,694 shares of the company’s stock worth $94,000 after buying an additional 595 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of GameStop by 9.4% in the 2nd quarter. Rakuten Securities Inc. now owns 7,572 shares of the company’s stock worth $185,000 after buying an additional 650 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

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.