GameStop (NYSE:GME) Stock Price Down 3.9% Following Insider Selling

Shares of GameStop Corp. (NYSE:GME) dropped 3.9% on Monday after an insider sold shares in the company. The company traded as low as $11.31 and last traded at $11.43. Approximately 1,803,283 shares changed hands during mid-day 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 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lawrence Cheng bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now directly owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop 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 completion of 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 90 days, insiders have sold 27,207 shares of company stock valued at $285,048. 12.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on GME. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Wedbush decreased their price objective on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research report on Wednesday, March 27th.

GameStop Stock Down 1.8 %

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 business’s fifty day moving average price is $12.73 and its two-hundred day moving average price is $13.98. The stock has a market capitalization of $3.39 billion, a PE ratio of 554.53 and a beta of -0.45.

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

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after acquiring an additional 167,145 shares during the period. Charles Schwab Investment Management Inc. lifted its position in GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after purchasing an additional 289,947 shares during the period. Bank of New York Mellon Corp lifted its position in GameStop by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company’s stock valued at $35,176,000 after purchasing an additional 16,875 shares during the period. Northern Trust Corp boosted its holdings in GameStop by 2.1% in the third quarter. Northern Trust Corp now owns 1,932,666 shares of the company’s stock valued at $31,812,000 after purchasing an additional 40,602 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after purchasing an additional 147,655 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.