Insider Selling: GameStop (NYSE:GME) General Counsel Sells 3,957 Shares of Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 3,957 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $22.62, for a total value of $89,507.34. Following the completion of the sale, the general counsel owned 104,190 shares of the company’s stock, valued at approximately $2,356,777.80. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Haymond Robinson also recently made the following trade(s):

• On Wednesday, July 1st, Mark Haymond Robinson sold 7,083 shares of GameStop stock. The stock was sold at an average price of $22.38, for a total value of $158,517.54.
• On Monday, April 13th, Mark Haymond Robinson sold 3,912 shares of GameStop stock. The stock was sold at an average price of $23.19, for a total value of $90,719.28.

GameStop Price Performance

Shares of NYSE GME opened at $22.74 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. GameStop Corp. has a 1-year low of $19.93 and a 1-year high of $28.10. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 17.23 and a beta of 1.76. The business has a 50-day moving average of $22.43 and a 200-day moving average of $22.85.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.16 by $0.14. The business had revenue of $835.30 million for the quarter, compared to the consensus estimate of $766.63 million. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The company’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently made changes to their positions in GME. Dimensional Fund Advisors LP grew its position in shares of GameStop by 189.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock worth $90,046,000 after buying an additional 2,557,079 shares in the last quarter. Renaissance Technologies LLC raised its holdings in GameStop by 376.2% in the first quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock valued at $61,063,000 after acquiring an additional 2,093,755 shares in the last quarter. Van ECK Associates Corp boosted its stake in GameStop by 58.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock valued at $84,528,000 after acquiring an additional 1,141,215 shares during the last quarter. Clear Street Group Inc. bought a new position in GameStop during the 3rd quarter valued at $29,971,000. Finally, Jump Financial LLC acquired a new position in GameStop during the 4th quarter worth $7,022,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

About GameStop

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.