Insider Buying: GameStop Corp. (NYSE:GME) Director Buys 5,000 Shares of Stock

GameStop Corp. (NYSE:GME) Director Lawrence Cheng acquired 5,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $21.54 per share, for a total transaction of $107,700.00. Following the completion of the transaction, the director now directly owns 83,000 shares in the company, valued at approximately $1,787,820. The trade was a 6.41 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

GameStop Stock Up 3.1 %

GME stock traded up $0.72 during midday trading on Monday, reaching $24.21. The company’s stock had a trading volume of 16,981,648 shares, compared to its average volume of 20,204,350. The business’s 50-day simple moving average is $24.83 and its 200-day simple moving average is $25.77. The stock has a market cap of $10.83 billion, a PE ratio of 134.53 and a beta of -0.44. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. As a group, equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of GameStop

A number of institutional investors and hedge funds have recently modified their holdings of GME. FMR LLC boosted its stake in GameStop by 7.2% during the 3rd quarter. FMR LLC now owns 41,408 shares of the company’s stock worth $949,000 after acquiring an additional 2,793 shares during the last quarter. Janus Henderson Group PLC raised its holdings in GameStop by 42.9% in the third quarter. Janus Henderson Group PLC now owns 182,905 shares of the company’s stock worth $4,197,000 after purchasing an additional 54,900 shares during the period. State Street Corp boosted its position in shares of GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after purchasing an additional 3,070,571 shares in the last quarter. United Services Automobile Association grew its holdings in shares of GameStop by 4.6% in the 3rd quarter. United Services Automobile Association now owns 22,500 shares of the company’s stock valued at $516,000 after buying an additional 999 shares during the period. Finally, XTX Topco Ltd increased its position in shares of GameStop by 599.0% in the 3rd quarter. XTX Topco Ltd now owns 89,044 shares of the company’s stock valued at $2,042,000 after buying an additional 76,305 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush set a $11.50 price target on GameStop in a research note on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

GameStop Company Profile

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.