GameStop (NYSE:GME) CEO Acquires $22,774,627.40 in Stock

GameStop Corp. (NYSE:GME) CEO Ryan Cohen acquired 844,130 shares of the business’s stock in a transaction dated Tuesday, October 13th. The shares were purchased at an average price of $26.98 per share, with a total value of $22,774,627.40. Following the transaction, the chief executive officer owned 42,492,652 shares of the company’s stock, valued at approximately $1,146,451,750.96. This represents a 2.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Ryan Cohen also recently made the following trade(s):

• On Friday, October 2nd, Ryan Cohen bought 700,000 shares of GameStop stock. The stock was acquired at an average cost of $24.41 per share, with a total value of $17,087,000.00.
• On Tuesday, September 29th, Ryan Cohen purchased 450,000 shares of GameStop stock. The stock was acquired at an average price of $23.48 per share, for a total transaction of $10,566,000.00.
• On Monday, September 21st, Ryan Cohen acquired 1,150,680 shares of GameStop stock. The stock was acquired at an average cost of $22.94 per share, with a total value of $26,396,599.20.
• On Thursday, September 10th, Ryan Cohen purchased 1,000,000 shares of GameStop stock. The stock was acquired at an average cost of $20.38 per share, with a total value of $20,380,000.00.

GameStop Trading Up 0.1%

NYSE GME traded up $0.02 during trading hours on Tuesday, hitting $27.25. 11,956,945 shares of the company were exchanged, compared to its average volume of 7,490,237. The stock has a 50-day moving average price of $21.00 and a 200 day moving average price of $22.01. The company has a quick ratio of 8.07, a current ratio of 8.72 and a debt-to-equity ratio of 0.68. GameStop Corp. has a 52 week low of $17.79 and a 52 week high of $27.53. The stock has a market cap of $13.75 billion, a PE ratio of 17.92 and a beta of 1.63.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $790.20 million during the quarter, compared to analyst estimates of $756.85 million. GameStop had a return on equity of 13.57% and a net margin of 25.16%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GME. Wall Street Zen downgraded GameStop from a “buy” rating to a “hold” rating in a report on Monday, September 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GameStop in a research report on Wednesday, July 29th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On GameStop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GME. Rockefeller Capital Management L.P. grew its stake in GameStop by 805.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock worth $45,000 after acquiring an additional 2,014 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of GameStop during the second quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of GameStop during the fourth quarter valued at approximately $54,000. Global Assets Advisory LLC purchased a new stake in shares of GameStop in the first quarter valued at approximately $60,000. Finally, CX Institutional boosted its holdings in shares of GameStop by 537.1% in the second quarter. CX Institutional now owns 3,313 shares of the company’s stock valued at $73,000 after purchasing an additional 2,793 shares during the period. Institutional investors own 29.21% of the company’s stock.

About GameStop

GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.

GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.