GameStop (NYSE:GME) Shares Down 3.9% Following Insider Selling

Shares of GameStop Corp. (NYSE:GME) were down 3.9% on Monday after an insider sold shares in the company. The company traded as low as $11.31 and last traded at $11.43. Approximately 1,803,283 shares were traded during trading, a decline of 53% from the average daily volume of 3,822,200 shares. The stock had previously closed at $11.90.

Specifically, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Daniel William Moore sold 7,779 shares of GameStop stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the transaction, the insider now owns 13,606 shares in the company, valued at $138,781.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now owns 50,837 shares in the company, valued at approximately $515,995.55. The disclosure for this sale can be found here. Insiders have sold 27,207 shares of company stock worth $285,048 over the last quarter. 12.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush cut their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Stock Down 5.1 %

The firm has a 50-day simple moving average of $12.78 and a 200 day simple moving average of $14.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The company has a market capitalization of $3.45 billion, a PE ratio of 564.78 and a beta of -0.45.

GameStop (NYSE:GME) last released 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). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, research analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after acquiring an additional 289,947 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of GameStop by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company’s stock worth $35,176,000 after acquiring an additional 16,875 shares during the last quarter. Northern Trust Corp increased its position in shares of GameStop by 2.1% during the third quarter. Northern Trust Corp now owns 1,932,666 shares of the company’s stock worth $31,812,000 after acquiring an additional 40,602 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of GameStop by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 1,331,536 shares of the company’s stock worth $23,342,000 after acquiring an additional 100,084 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

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.