GameStop (NYSE:GME) Insider Sells $179,518.22 in Stock

Key Points

• Daniel William Moore, a GameStop insider, sold 6,509 shares for a total of $179,518.22, reducing his ownership by 5.46%. He still holds 112,620 shares valued at approximately $3.1 million.
• GameStop announced an 11-10 stock split that is set to occur before the market opens on October 3, 2023.
• The company reported $0.25 earnings per share, surpassing estimates, with a revenue of $972.20 million, reflecting a 21.8% year-over-year increase.

GameStop Corp. (NYSE:GME - Get Free Report) insider Daniel William Moore sold 6,509 shares of GameStop stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $179,518.22. Following the sale, the insider owned 112,620 shares of the company's stock, valued at approximately $3,106,059.60. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Daniel William Moore also recently made the following trade(s):

• On Tuesday, September 2nd, Daniel William Moore sold 830 shares of GameStop stock. The stock was sold at an average price of $22.68, for a total transaction of $18,824.40.

GameStop Price Performance

GameStop stock traded down $0.42 during trading hours on Thursday, hitting $27.28. 14,480,347 shares of the company traded hands, compared to its average volume of 10,984,329. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80. The firm 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 1-year low of $20.30 and a 1-year high of $35.81. The firm's 50-day simple moving average is $23.91 and its two-hundred day simple moving average is $25.19.

GameStop shares are set to split before the market opens on Friday, October 3rd. The 11-10 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Thursday, October 2nd.

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

Analyst Ratings Changes

Separately, Wedbush raised GameStop to a "strong sell" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of "Sell" and a consensus price target of $13.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GME. Geode Capital Management LLC raised its stake in shares of GameStop by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 7,049,033 shares of the company's stock valued at $171,955,000 after buying an additional 66,550 shares during the last quarter. Marshall Wace LLP grew its stake in shares of GameStop by 347.7% during the second quarter. Marshall Wace LLP now owns 6,657,678 shares of the company's stock worth $162,381,000 after purchasing an additional 5,170,741 shares in the last quarter. Invesco Ltd. boosted its stake in GameStop by 486.6% in the second quarter. Invesco Ltd. now owns 3,858,024 shares of the company's stock valued at $94,097,000 after acquiring an additional 3,200,321 shares in the last quarter. Northern Trust Corp raised its holdings in shares of GameStop by 0.4% in the first quarter. Northern Trust Corp now owns 3,183,116 shares of the company's stock valued at $71,047,000 after buying an additional 11,813 shares during the last quarter. Finally, Norges Bank purchased a new position in GameStop during the second quarter worth about $76,701,000. Institutional investors own 29.21% of the company's stock.

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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