GameStop Corp. (NYSE:GME) General Counsel Sells $267,309.90 in 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 business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total value of $267,309.90. Following the completion of the sale, the general counsel directly owned 116,781 shares of the company's stock, valued at $2,823,764.58. The trade was a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

GameStop Stock Performance

Shares of NYSE GME traded down $0.44 during midday trading on Tuesday, reaching $22.55. The company's stock had a trading volume of 6,043,195 shares, compared to its average volume of 8,641,606. GameStop Corp. has a 12-month low of $18.73 and a 12-month high of $35.81. The firm has a 50 day moving average price of $25.67 and a 200-day moving average price of $25.82. The stock has a market capitalization of $10.09 billion, a P/E ratio of 49.01 and a beta of -0.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.13. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The firm had revenue of $732.40 million for the quarter, compared to the consensus estimate of $754.23 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The company's revenue was down 16.9% compared to the same quarter last year. As a group, equities analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On GameStop

A number of hedge funds and other institutional investors have recently modified their holdings of GME. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in GameStop in the second quarter valued at approximately $1,829,000. New York State Teachers Retirement System lifted its stake in GameStop by 2.2% in the second quarter. New York State Teachers Retirement System now owns 318,742 shares of the company's stock valued at $7,774,000 after purchasing an additional 6,878 shares during the last quarter. Bayforest Capital Ltd lifted its stake in GameStop by 221.7% in the second quarter. Bayforest Capital Ltd now owns 48,936 shares of the company's stock valued at $1,194,000 after purchasing an additional 33,724 shares during the last quarter. SLT Holdings LLC lifted its stake in GameStop by 22.3% in the second quarter. SLT Holdings LLC now owns 44,633 shares of the company's stock valued at $1,089,000 after purchasing an additional 8,145 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in GameStop by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 114,500 shares of the company's stock valued at $2,793,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush upgraded GameStop to a "strong sell" rating in a research note on Tuesday, July 1st.

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.