GameStop (NYSE:GME) Insider Sells $158,562.30 in Stock

GameStop Corp. (NYSE:GME) insider Daniel William Moore sold 7,085 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,562.30. Following the completion of the sale, the insider directly owned 115,125 shares in the company, valued at approximately $2,576,497.50. This represents a 5.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

GameStop Stock Down 2.3%

Shares of NYSE:GME opened at $21.69 on Thursday. The firm has a market cap of $9.73 billion, a P/E ratio of 16.43 and a beta of 1.76. GameStop Corp. has a 12-month low of $19.93 and a 12-month high of $28.10. The business has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $22.84. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The firm had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. During the same quarter in the previous year, the company posted $0.17 EPS. The business’s revenue was up 14.0% on a year-over-year basis.

Hedge Funds Weigh In On GameStop

A number of institutional investors and hedge funds have recently modified their holdings of GME. State Street Corp increased its stake in shares of GameStop by 0.8% in the 4th quarter. State Street Corp now owns 12,469,631 shares of the company’s stock valued at $250,390,000 after acquiring an additional 96,802 shares in the last quarter. Geode Capital Management LLC boosted its stake in GameStop by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company’s stock worth $147,431,000 after acquiring an additional 92,996 shares in the last quarter. Invesco Ltd. grew its holdings in GameStop by 5.5% in the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock worth $110,990,000 after purchasing an additional 210,523 shares during the period. Dimensional Fund Advisors LP increased its stake in GameStop by 189.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock valued at $90,046,000 after purchasing an additional 2,557,079 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of GameStop by 1.1% during the third quarter. Northern Trust Corp now owns 3,250,275 shares of the company’s stock valued at $88,668,000 after purchasing an additional 35,275 shares during the period. 29.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GME has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

GameStop Company Profile

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.