Insider Selling: GameStop (NYSE:GME) General Counsel Sells $111,909.00 in Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 5,475 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $20.44, for a total transaction of $111,909.00. Following the sale, the general counsel directly owned 117,355 shares of the company’s stock, valued at approximately $2,398,736.20. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

GameStop Stock Down 0.3%

NYSE:GME traded down $0.06 on Tuesday, reaching $20.66. The stock had a trading volume of 3,376,049 shares, compared to its average volume of 5,321,925. GameStop Corp. has a 12-month low of $19.93 and a 12-month high of $35.81. The stock has a market cap of $9.25 billion, a P/E ratio of 25.19 and a beta of -1.23. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average of $21.63 and a 200 day moving average of $23.00.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. GameStop had a return on equity of 9.75% and a net margin of 11.08%.The company had revenue of $821.00 million for the quarter, compared to the consensus estimate of $987.29 million. During the same period in the previous year, the business earned $0.06 EPS. GameStop’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On GameStop

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of GameStop by 1.0% during the second quarter. Geode Capital Management LLC now owns 7,049,033 shares of the company’s stock worth $171,955,000 after acquiring an additional 66,550 shares during the last quarter. Marshall Wace LLP increased its stake in shares of GameStop by 347.7% in the second quarter. Marshall Wace LLP now owns 6,657,678 shares of the company’s stock valued at $162,381,000 after purchasing an additional 5,170,741 shares during the period. Invesco Ltd. raised its holdings in shares of GameStop by 5.5% during the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock valued at $110,990,000 after buying an additional 210,523 shares during the last quarter. Northern Trust Corp grew its holdings in GameStop by 1.1% in the 3rd quarter. Northern Trust Corp now owns 3,250,275 shares of the company’s stock worth $88,668,000 after buying an additional 35,275 shares in the last quarter. Finally, Norges Bank acquired a new stake in GameStop in the 2nd quarter valued at approximately $76,701,000. 29.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of GameStop in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GameStop currently has an average rating of “Reduce” and an average price target of $13.50.

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.