GameStop (NYSE:GME) Shares Down 3.9% After Insider Selling

GameStop Corp. (NYSE:GME)’s share price traded down 3.9% during trading on Monday after an insider sold shares in the company. The company traded as low as $11.31 and last traded at $11.43. 1,803,283 shares were traded during mid-day trading, a decline of 53% from the average session volume of 3,822,200 shares. The stock had previously closed at $11.90.

Specifically, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now owns 64,308 shares in the company, valued at approximately $746,615.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other GameStop news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the transaction, the insider now directly owns 13,606 shares of the company’s stock, valued at approximately $138,781.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares in the company, valued at $746,615.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,207 shares of company stock worth $285,048. 12.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GME. Wedbush reduced their target price on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday, March 27th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

GameStop Price Performance

The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.51 billion, a P/E ratio of 595.30 and a beta of -0.45. The business has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $14.04.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. GameStop’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On GameStop

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in GameStop in the 3rd quarter worth approximately $872,000. Rhumbline Advisers grew its position in GameStop by 1.7% in the third quarter. Rhumbline Advisers now owns 806,083 shares of the company’s stock valued at $13,268,000 after acquiring an additional 13,248 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in GameStop by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,316,585 shares of the company’s stock worth $38,131,000 after purchasing an additional 243,608 shares in the last quarter. Barclays PLC boosted its stake in GameStop by 133.3% in the third quarter. Barclays PLC now owns 346,830 shares of the company’s stock worth $5,710,000 after purchasing an additional 198,140 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of GameStop by 1.4% during the third quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock valued at $7,283,000 after acquiring an additional 6,311 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.