GameStop Corp. (NYSE:GME) Director Lawrence Cheng Buys 5,000 Shares

GameStop Corp. (NYSE:GME) Director Lawrence Cheng acquired 5,000 shares of GameStop stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $21.54 per share, with a total value of $107,700.00. Following the transaction, the director now owns 83,000 shares of the company’s stock, valued at $1,787,820. The trade was a 6.41 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

GameStop Stock Up 3.1 %

NYSE GME opened at $24.21 on Tuesday. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The company has a market capitalization of $10.83 billion, a P/E ratio of 134.53 and a beta of -0.44. The stock’s 50-day moving average price is $24.77 and its 200-day moving average price is $25.81.

GameStop (NYSE:GME) last released its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm’s revenue was down 28.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. Research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in shares of GameStop by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock worth $294,000 after acquiring an additional 502 shares during the period. Christensen King & Associates Investment Services Inc. boosted its stake in GameStop by 1.9% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after purchasing an additional 518 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after buying an additional 520 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of GameStop by 2.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after buying an additional 523 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its holdings in shares of GameStop by 1.8% in the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock worth $963,000 after buying an additional 557 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GME shares. Wedbush set a $11.50 price target on shares of GameStop in a research report 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.

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.