Insider Selling: GameStop Corp. (NYSE:GME) General Counsel Sells 11,055 Shares of Stock

Key Points

• Mark Haymond Robinson, GameStop's General Counsel, sold 11,055 shares at an average price of $24.18, reducing his holdings by 8.65% to a total of 116,781 shares valued at approximately $2.82 million.
• GameStop reported a quarterly EPS of $0.17, exceeding expectations, but its revenue of $732.40 million declined by 16.9% year-over-year against a consensus estimate of $754.23 million.
• Recent analyst reports include a downgrade to a "strong sell" rating by Wedbush and an upgrade from "sell" to "hold" by Wall Street Zen, reflecting mixed sentiments on GameStop's stock performance.

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Haymond Robinson sold 11,055 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the completion of the sale, the general counsel owned 116,781 shares of the company's stock, valued at approximately $2,823,764.58. This trade represents a 8.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 transaction of $714.30.
• On Wednesday, July 2nd, Mark Haymond Robinson sold 1,269 shares of GameStop stock. The stock was sold at an average price of $23.95, for a total transaction of $30,392.55.

GameStop Price Performance

Shares of GameStop stock traded down $0.23 during trading on Friday, hitting $23.30. 7,058,391 shares of the company's stock traded hands, compared to its average volume of 8,816,855. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. The firm's fifty day moving average price is $25.99 and its 200 day moving average price is $26.07. GameStop Corp. has a twelve month low of $18.73 and a twelve month high of $35.81. The company has a market cap of $10.42 billion, a PE ratio of 43.57 and a beta of -0.81.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.13. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The firm had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. During the same period last year, the firm posted ($0.12) EPS. The firm's quarterly revenue was down 16.9% on a year-over-year basis. Analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GME has been the topic of several analyst reports. Wedbush upgraded shares of GameStop to a "strong sell" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.

Hedge Funds Weigh In On GameStop

A number of institutional investors have recently modified their holdings of GME. Vanguard Group Inc. raised its position in shares of GameStop by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock valued at $1,226,775,000 after acquiring an additional 2,036,032 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GameStop by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock valued at $208,769,000 after acquiring an additional 380,554 shares during the last quarter. Northern Trust Corp raised its position in shares of GameStop by 0.4% during the 1st quarter. Northern Trust Corp now owns 3,183,116 shares of the company's stock valued at $71,047,000 after acquiring an additional 11,813 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of GameStop by 895.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,641,427 shares of the company's stock valued at $58,957,000 after acquiring an additional 2,376,051 shares during the last quarter. Finally, Slate Path Capital LP bought a new stake in shares of GameStop during the 4th quarter valued at $60,361,000. 29.21% of the stock is owned by institutional investors.

About GameStop

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.