Insider Selling: GameStop (NYSE:GME) General Counsel Sells 7,296 Shares of Company Stock

Key Points

• GameStop’s general counsel Mark Robinson sold 7,296 shares at an average price of $24.26, generating approximately $177,001. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 7% to 96,894 shares.
• Robinson also sold 3,882 additional shares on October 5 for approximately $98,680, while GameStop shares recently traded at $25.35 near their 12-month high of $26.88.
• GameStop matched earnings expectations at $0.27 per share and exceeded revenue estimates, but revenue fell 18.7% year over year. Analysts maintain an overall “Hold” rating, and institutional investors own 29.21% of the stock.

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Robinson sold 7,296 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $24.26, for a total value of $177,000.96. Following the sale, the general counsel owned 96,894 shares in the company, valued at $2,350,648.44. The trade was a 7.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Mark Robinson sold 3,882 shares of GameStop stock. The shares were sold at an average price of $25.42, for a total transaction of $98,680.44.

GameStop Stock Performance

Shares of GameStop stock traded up $0.65 during midday trading on Monday, hitting $25.35. The company had a trading volume of 11,927,161 shares, compared to its average volume of 10,119,756. The company has a fifty day simple moving average of $20.56 and a 200 day simple moving average of $21.91. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 16.68 and a beta of 1.63. The company has a quick ratio of 8.07, a current ratio of 8.72 and a debt-to-equity ratio of 0.68. GameStop Corp. has a 12-month low of $17.79 and a 12-month high of $26.88.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in GME. WINTON GROUP Ltd acquired a new stake in shares of GameStop in the second quarter worth $5,111,000. Sterling Investment Advisors Ltd. lifted its position in GameStop by 33.8% during the second quarter. Sterling Investment Advisors Ltd. now owns 18,316 shares of the company's stock valued at $404,000 after purchasing an additional 4,627 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in GameStop in the second quarter valued at $1,866,000. AlphaGrep UK Ltd acquired a new stake in GameStop during the 2nd quarter worth about $708,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in GameStop during the 2nd quarter worth about $2,578,000. Institutional investors and hedge funds own 29.21% of the company's stock.

About GameStop

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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