GameStop (NYSE:GME) Insider Daniel William Moore Sells 7,210 Shares

GameStop Corp. (NYSE:GME) insider Daniel William Moore sold 7,210 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the transaction, the insider directly owned 101,014 shares in the company, valued at $2,317,261.16. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

GameStop Stock Up 0.1%

Shares of GME traded up $0.03 during mid-day trading on Friday, hitting $23.39. The company’s stock had a trading volume of 3,834,282 shares, compared to its average volume of 5,872,089. The company’s 50-day moving average is $23.76 and its 200-day moving average is $23.07. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $35.81. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 31.18 and a beta of 1.86. The company has a current ratio of 15.30, a quick ratio of 14.68 and a debt-to-equity ratio of 0.76.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, March 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.47 billion. GameStop had a net margin of 11.53% and a return on equity of 12.47%. On average, equities research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On GameStop

A number of large investors have recently modified their holdings of GME. Marshall Wace LLP increased its holdings 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 acquiring an additional 5,170,741 shares in the last quarter. Invesco Ltd. boosted its stake in GameStop by 486.6% in the 2nd quarter. Invesco Ltd. now owns 3,858,024 shares of the company’s stock worth $94,097,000 after purchasing an additional 3,200,321 shares in the last quarter. Norges Bank purchased a new stake in GameStop during the 2nd quarter worth approximately $76,701,000. Clear Street LLC purchased a new stake in GameStop during the 2nd quarter worth approximately $57,433,000. Finally, Van ECK Associates Corp increased its stake in GameStop by 58.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock valued at $84,528,000 after purchasing an additional 1,141,215 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GME. Weiss Ratings upgraded GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Wall Street Zen cut GameStop from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GameStop currently has an average rating of “Reduce” and an average target price of $13.50.

About GameStop

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.