GameStop (NYSE:GME) Stock: Insider Ryan Cohen Purchases 844,130 Shares

Key Points

• CEO Ryan Cohen bought 844,130 GameStop shares at an average price of $26.98, investing approximately $22.8 million and increasing his stake by 2.03% to 42.49 million shares.
• The purchase follows several insider buys since September, bringing Cohen’s recent GameStop investments to more than $97 million based on the transactions listed.
• GameStop shares rose 0.1% to $27.25, near their 52-week high, while the company’s latest quarterly results met EPS expectations and exceeded revenue estimates; analysts maintain a consensus “Hold” rating.

GameStop Corp. (NYSE:GME - Get Free Report) CEO Ryan Cohen bought 844,130 shares of the business's stock in a transaction dated Tuesday, October 13th. The stock was bought at an average cost of $26.98 per share, for a total transaction of $22,774,627.40. Following the completion of the purchase, the chief executive officer owned 42,492,652 shares of the company's stock, valued at approximately $1,146,451,750.96. The trade was a 2.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Ryan Cohen also recently made the following trade(s):

• On Friday, October 2nd, Ryan Cohen purchased 700,000 shares of GameStop stock. The shares were bought at an average price of $24.41 per share, with a total value of $17,087,000.00.
• On Tuesday, September 29th, Ryan Cohen purchased 450,000 shares of GameStop stock. The stock was bought at an average cost of $23.48 per share, with a total value of $10,566,000.00.
• On Monday, September 21st, Ryan Cohen purchased 1,150,680 shares of GameStop stock. The stock was bought at an average cost of $22.94 per share, with a total value of $26,396,599.20.
• On Thursday, September 10th, Ryan Cohen purchased 1,000,000 shares of GameStop stock. The stock was purchased at an average price of $20.38 per share, for a total transaction of $20,380,000.00.

GameStop Stock Up 0.1%

GameStop stock traded up $0.02 during mid-day trading on Tuesday, reaching $27.25. The stock had a trading volume of 11,956,945 shares, compared to its average volume of 7,490,237. GameStop Corp. has a one year low of $17.79 and a one year high of $27.53. The company has a 50-day moving average price of $21.00 and a two-hundred day moving average price of $22.01. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of 17.92 and a beta of 1.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.72 and a quick ratio of 8.07.

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

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its stake in GameStop by 805.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company's stock worth $45,000 after buying an additional 2,014 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of GameStop in the first quarter worth about $60,000. Caitong International Asset Management Co. Ltd bought a new position in shares of GameStop in the fourth quarter worth about $54,000. CX Institutional boosted its stake in shares of GameStop by 537.1% in the second quarter. CX Institutional now owns 3,313 shares of the company's stock worth $73,000 after acquiring an additional 2,793 shares during the period. Finally, Lido Advisors LLC purchased a new stake in shares of GameStop during the first quarter worth about $210,000. Hedge funds and other institutional investors own 29.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of GameStop in a research note on Wednesday, July 29th. Wall Street Zen lowered GameStop from a "buy" rating to a "hold" rating in a report on Monday, September 7th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of "Hold".

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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