Insider Selling: GameStop Corp. Chairman Sells 400,000 Shares of Stock (GME)
GameStop Corp. (NYSE:GME) Chairman Daniel Dematteo unloaded 400,000 shares of GameStop Corp. stock on the open market in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.62, for a total transaction of $19,848,000.00. Following the sale, the chairman now directly owns 355,228 shares of the company’s stock, valued at approximately $17,626,413. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
GME has been the subject of a number of recent research reports. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of GameStop Corp. (NYSE:GME) in a research note to investors on Friday, August 30th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of GameStop Corp. (NYSE:GME) in a research note to investors on Tuesday, August 27th. They now have a $55.00 price target on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of GameStop Corp. (NYSE:GME) from $50.00 to $65.00 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock.
Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. GameStop Corp. presently has a consensus rating of “Buy” and an average price target of $50.08.
GameStop Corp. (NYSE:GME) traded up 2.49% during mid-day trading on Tuesday, hitting $51.05. The stock had a trading volume of 1,924,417 shares. GameStop Corp. has a 52-week low of $20.50 and a 52-week high of $56.08. The stock’s 50-day moving average is $49.91 and its 200-day moving average is $39.74. The company’s market cap is $5.968 billion.
GameStop Corp. (NYSE:GME) last released its earnings data on Thursday, August 22nd. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was down 10.7% on a year-over-year basis. On average, analysts predict that GameStop Corp. will post $3.20 earnings per share for the current fiscal year.
GameStop Corp. (NYSE:GME) is a holding company.
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