GameStop Corp. (NYSE:GME) Director Purchases $257,500.00 in Stock

GameStop Corp. (NYSE:GME) Director Alain Attal bought 10,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the acquisition, the director now owns 572,464 shares of the company’s stock, valued at approximately $14,740,948. This trade represents a 1.78 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

GameStop Trading Up 5.3 %

Shares of GME stock opened at $26.34 on Friday. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 146.35 and a beta of -0.44. The firm has a 50-day moving average price of $24.51 and a 200 day moving average price of $25.86. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $0.21 EPS. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. As a group, research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Institutional Trading of GameStop

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of GameStop by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after purchasing an additional 107,354 shares during the period. Foundations Investment Advisors LLC acquired a new stake in GameStop during the 4th quarter valued at $878,000. Retirement Systems of Alabama lifted its stake in shares of GameStop by 41.7% in the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after acquiring an additional 138,597 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of GameStop by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock worth $80,401,000 after buying an additional 60,673 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of GameStop by 5.5% in the 4th quarter. Swiss National Bank now owns 834,228 shares of the company’s stock worth $26,145,000 after acquiring an additional 43,700 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.