GameStop (NYSE:GME) General Counsel Sells $122,703.42 in Stock

Key Points

• GameStop General Counsel Mark Haymond Robinson sold 4,449 shares of stock for a total of $122,703.42, reducing his position in the company by 3.81%.
• GameStop's stock has declined by 1.5% to $27.28, with the company's market cap currently at $12.21 billion.
• The company recently announced an 11-10 stock split effective on October 3rd, following significant trading activity and management changes.

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Haymond Robinson sold 4,449 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $122,703.42. Following the completion of the transaction, the general counsel directly owned 112,302 shares in the company, valued at $3,097,289.16. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, July 24th, Mark Haymond Robinson sold 30 shares of GameStop stock. The shares were sold at an average price of $23.81, for a total value of $714.30.
• On Wednesday, July 23rd, Mark Haymond Robinson sold 11,055 shares of GameStop stock. The stock was sold at an average price of $24.18, for a total value of $267,309.90.

GameStop Stock Down 1.5%

GME stock traded down $0.42 on Thursday, hitting $27.28. 14,480,347 shares of the company's stock were exchanged, compared to its average volume of 10,984,329. The company has a debt-to-equity ratio of 0.80, a quick ratio of 10.79 and a current ratio of 11.37. The firm has a 50 day moving average price of $23.91 and a two-hundred day moving average price of $25.19. The stock has a market cap of $12.21 billion, a P/E ratio of 37.36 and a beta of -0.86. GameStop Corp. has a 12-month low of $20.30 and a 12-month high of $35.81.

Shares of GameStop are scheduled to split on the morning of Friday, October 3rd. The 11-10 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Thursday, October 2nd.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. The company had revenue of $972.20 million during the quarter, compared to analysts' expectations of $823.25 million. GameStop had a return on equity of 7.72% and a net margin of 9.41%.GameStop's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. As a group, equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded shares of GameStop to a "strong sell" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, GameStop has a consensus rating of "Sell" and a consensus target price of $13.50.

Hedge Funds Weigh In On GameStop

A number of large investors have recently modified their holdings of GME. Thrivent Financial for Lutherans raised its stake in shares of GameStop by 0.5% during the second quarter. Thrivent Financial for Lutherans now owns 96,623 shares of the company's stock worth $2,357,000 after buying an additional 511 shares during the last quarter. Marex Group plc bought a new stake in shares of GameStop during the second quarter worth approximately $22,912,000. Headlands Technologies LLC bought a new stake in shares of GameStop during the second quarter worth approximately $402,000. Rakuten Securities Inc. raised its stake in shares of GameStop by 9.4% during the second quarter. Rakuten Securities Inc. now owns 7,572 shares of the company's stock worth $185,000 after buying an additional 650 shares during the last quarter. Finally, Sender Co & Partners Inc. bought a new stake in shares of GameStop during the second quarter worth approximately $317,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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