Insider Buying: GameStop (NYSE:GME) Director Purchases 12,000 Shares of Stock

GameStop Corp. (NYSE:GME) Director Alain Attal purchased 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was acquired at an average cost of $20.90 per share, with a total value of $250,800.00. Following the completion of the acquisition, the director directly owned 584,464 shares of the company’s stock, valued at $12,215,297.60. The trade was a 2.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

GameStop Price Performance

Shares of NYSE GME traded up $0.01 during trading on Tuesday, reaching $21.11. The company had a trading volume of 6,666,008 shares, compared to its average volume of 4,148,951. GameStop Corp. has a 52 week low of $19.93 and a 52 week high of $35.81. The business’s 50 day moving average price is $21.46 and its 200-day moving average price is $22.83. The stock has a market cap of $9.46 billion, a PE ratio of 25.75 and a beta of -1.23. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39.

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

Institutional Investors Weigh In On GameStop

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in GameStop by 28.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,025,993 shares of the company’s stock valued at $25,024,000 after buying an additional 226,234 shares during the last quarter. Marshall Wace LLP lifted its holdings in GameStop by 347.7% during the 2nd 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 last quarter. AGF Management Ltd. acquired a new position in GameStop in the 2nd quarter valued at about $2,119,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GameStop during the second quarter worth approximately $350,000. Finally, Clear Street LLC bought a new position in GameStop during the 2nd quarter worth $57,433,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of GameStop from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average target price 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.