GameStop Corp. (NYSE:GME) Director Lawrence Cheng Acquires 10,000 Shares

GameStop Corp. (NYSE:GME) Director Lawrence Cheng bought 10,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were acquired at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the acquisition, the director now owns 65,088 shares in the company, valued at $730,287.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

GameStop Stock Performance

Shares of GameStop stock opened at $11.02 on Wednesday. The firm has a market capitalization of $3.37 billion, a P/E ratio of 551.03 and a beta of -0.45. The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $13.78 and a 200 day moving average price of $14.52. GameStop Corp. has a 52 week low of $10.73 and a 52 week high of $27.65.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. Sell-side analysts expect that GameStop Corp. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On GameStop

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd raised its position in shares of GameStop by 323.2% in the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock valued at $39,000 after purchasing an additional 181 shares during the last quarter. Captrust Financial Advisors raised its position in GameStop by 24.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,314 shares of the company’s stock worth $161,000 after buying an additional 261 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in GameStop during the 1st quarter worth approximately $50,000. Prudential Financial Inc. raised its position in GameStop by 8.5% during the 2nd quarter. Prudential Financial Inc. now owns 4,640 shares of the company’s stock worth $567,000 after buying an additional 365 shares during the last quarter. Finally, FMR LLC raised its position in GameStop by 4.6% during the 2nd quarter. FMR LLC now owns 8,391 shares of the company’s stock worth $1,026,000 after buying an additional 370 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GME. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush lowered their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday, March 27th.

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.