GameStop (NYSE:GME) CEO Ryan Cohen Buys 500,000 Shares

GameStop Corp. (NYSE:GMEGet Free Report) CEO Ryan Cohen purchased 500,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was bought at an average cost of $21.12 per share, with a total value of $10,560,000.00. Following the acquisition, the chief executive officer owned 37,847,842 shares of the company’s stock, valued at approximately $799,346,423.04. The trade was a 1.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

GameStop Stock Performance

Shares of GameStop stock traded up $1.41 during trading on Thursday, hitting $23.10. 15,163,251 shares of the company’s stock were exchanged, compared to its average volume of 5,975,117. The business has a 50-day simple moving average of $21.47 and a 200-day simple moving average of $22.82. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 28.17 and a beta of -1.23. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $35.81.

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

Institutional Investors Weigh In On GameStop

A number of large investors have recently added to or reduced their stakes in GME. AQR Capital Management LLC boosted its stake in shares of GameStop by 312.2% during the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock valued at $623,000 after buying an additional 22,297 shares during the last quarter. Goldman Sachs Group Inc. grew its position in GameStop by 33.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock worth $5,851,000 after purchasing an additional 65,325 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GameStop by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock worth $25,255,000 after buying an additional 94,892 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of GameStop during the second quarter valued at $1,834,000. Finally, UMB Bank n.a. increased its stake in GameStop by 17.4% during the 2nd quarter. UMB Bank n.a. now owns 4,287 shares of the company’s stock valued at $105,000 after buying an additional 636 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

View Our Latest Stock Report on GME

Key Headlines Impacting GameStop

Here are the key news stories impacting GameStop this week:

About GameStop

(Get Free Report)

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.

Featured Stories

Insider Buying and Selling by Quarter for GameStop (NYSE:GME)

Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.