Daniel William Moore Sells 1,972 Shares of GameStop Corp. (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) insider Daniel William Moore sold 1,972 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

GameStop Trading Up 0.9 %

Shares of GameStop stock opened at $21.40 on Friday. The business’s 50-day moving average price is $21.88 and its 200-day moving average price is $20.97. The firm has a market capitalization of $7.52 billion, a PE ratio of 267.50 and a beta of -0.19. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $798.30 million for the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. As a group, analysts predict that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GameStop

A number of large investors have recently added to or reduced their stakes in GME. Cubist Systematic Strategies LLC purchased a new stake in GameStop during the second quarter valued at about $9,577,000. Renaissance Technologies LLC boosted its holdings in GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after acquiring an additional 342,178 shares during the period. Van ECK Associates Corp grew its position in GameStop by 14.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after acquiring an additional 209,861 shares during the last quarter. Vanguard Group Inc. grew its position in GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in GameStop by 659.6% in the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after purchasing an additional 121,328 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GME. StockNews.com raised shares of GameStop to a “sell” rating in a report on Wednesday, September 25th. Wedbush cut their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th.

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.