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

Shares of GameStop Corp. (NYSE:GME) were down 3.9% during mid-day trading on Monday following insider selling activity. The stock traded as low as $11.31 and last traded at $11.43. Approximately 1,803,283 shares changed hands during trading, a decline of 53% from the average daily volume of 3,822,200 shares. The stock had previously closed at $11.90.

Specifically, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lawrence Cheng acquired 10,000 shares of GameStop stock in a transaction dated Monday, April 8th. The stock was purchased at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, the director now owns 65,088 shares of the company’s stock, valued at $730,287.36. The disclosure for this purchase can be found here. Insiders have sold 27,207 shares of company stock valued at $285,048 in the last ninety days. Corporate insiders own 12.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on GME shares. Wedbush dropped their price objective on 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 GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th.

GameStop Price Performance

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

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

Institutional Trading of GameStop

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

About GameStop

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.