GameStop (NYSE:GME) General Counsel Sells 3,882 Shares of Company Stock

Key Points

• GameStop General Counsel Mark Robinson sold 3,882 shares at an average price of $25.42, totaling $98,680.44. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 4.01% to 93,012 shares.
• GameStop shares rose 2.6% to $25.35, near the company’s 12-month high of $26.88. The company reported quarterly EPS in line with estimates at $0.27 and revenue of $790.2 million, though revenue declined 18.7% year over year.
• Analyst sentiment remains cautious, with the stock holding an average “Hold” rating. Institutional investors own 29.21% of GameStop, while several major funds significantly increased their positions.

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Robinson sold 3,882 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $25.42, for a total transaction of $98,680.44. Following the transaction, the general counsel owned 93,012 shares of the company's stock, valued at approximately $2,364,365.04. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Thursday, October 1st, Mark Robinson sold 7,296 shares of GameStop stock. The shares were sold at an average price of $24.26, for a total value of $177,000.96.

GameStop Stock Up 2.6%

GME traded up $0.65 on Monday, hitting $25.35. 11,927,161 shares of the company were exchanged, compared to its average volume of 10,119,756. GameStop Corp. has a 12 month low of $17.79 and a 12 month high of $26.88. The company has a market cap of $12.79 billion, a PE ratio of 16.68 and a beta of 1.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 8.07 and a current ratio of 8.72. The stock's fifty day moving average is $20.56 and its 200-day moving average is $21.91.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $790.20 million during the quarter, compared to analysts' expectations of $756.85 million. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The business's quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share.

Wall Street Analyst Weigh In

GME has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of GameStop in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of GameStop from a "buy" rating to a "hold" rating in a research report on Monday, September 7th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Institutional Investors Weigh In On GameStop

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 2,557,079 shares during the period. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 2,093,755 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of GameStop in the second quarter valued at about $5,111,000. Pacer Advisors Inc. raised its position in shares of GameStop by 19.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,112,535 shares of the company's stock valued at $22,340,000 after purchasing an additional 180,356 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of GameStop by 412.7% during the 1st quarter. First Trust Advisors LP now owns 208,650 shares of the company's stock worth $4,807,000 after buying an additional 167,956 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

GameStop Company Profile

GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.

GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.

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