Insider Selling: GameStop (NYSE:GME) General Counsel Sells 12,200 Shares of Stock

Key Points

• Mark Haymond Robinson, GameStop's General Counsel, sold 12,200 shares on Jan. 12 at an average price of $21.00 for $256,200, leaving him with 105,155 shares — a 10.40% reduction in his stake.
• GameStop shares traded around $21.01 (market cap ~$9.41B) and, despite a recent EPS beat, analysts maintain a generally bearish view with an average rating of "Reduce" and a $13.50 price target.

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Haymond Robinson sold 12,200 shares of the firm's stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $21.00, for a total transaction of $256,200.00. Following the completion of the transaction, the general counsel directly owned 105,155 shares in the company, valued at approximately $2,208,255. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, January 2nd, Mark Haymond Robinson sold 5,475 shares of GameStop stock. The stock was sold at an average price of $20.44, for a total transaction of $111,909.00.

GameStop Price Performance

NYSE:GME traded up $0.03 during mid-day trading on Tuesday, reaching $21.01. The stock had a trading volume of 4,100,202 shares, compared to its average volume of 4,726,150. GameStop Corp. has a 12 month low of $19.93 and a 12 month high of $35.81. The stock has a market capitalization of $9.41 billion, a PE ratio of 25.62 and a beta of -1.23. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.39 and a quick ratio of 9.77. The stock has a 50-day simple moving average of $21.50 and a two-hundred day simple moving average of $22.93.

GameStop (NYSE:GME - Get Free Report) last released its earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. GameStop had a return on equity of 9.75% and a net margin of 11.08%.The firm had revenue of $821.00 million during the quarter, compared to analysts' expectations of $987.29 million. During the same period in the prior year, the company earned $0.06 earnings per share. The company's quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of GameStop in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $13.50.

Institutional Investors Weigh In On GameStop

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of GameStop by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 7,049,033 shares of the company's stock worth $171,955,000 after buying an additional 66,550 shares in the last quarter. Marshall Wace LLP lifted its position in shares of GameStop by 347.7% during the 2nd quarter. Marshall Wace LLP now owns 6,657,678 shares of the company's stock valued at $162,381,000 after acquiring an additional 5,170,741 shares during the period. Invesco Ltd. boosted its stake in GameStop by 5.5% during the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company's stock worth $110,990,000 after acquiring an additional 210,523 shares in the last quarter. Northern Trust Corp grew its holdings in GameStop by 1.1% in the third quarter. Northern Trust Corp now owns 3,250,275 shares of the company's stock worth $88,668,000 after purchasing an additional 35,275 shares during the period. Finally, Norges Bank bought a new stake in GameStop in the second quarter valued at $76,701,000. Institutional investors and hedge funds own 29.21% of the company's stock.

About GameStop

GameStop Corp. NYSE: GME is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

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