Insider Selling: GameStop (NYSE:GME) General Counsel Sells $90,719.28 in Stock

Key Points

• GameStop General Counsel Mark Haymond Robinson sold 3,912 shares on April 13 at an average price of $23.19 for $90,719.28 under a pre-arranged Rule 10b5-1 plan, leaving him with 115,230 shares (a 3.28% ownership decline).
• Robinson also sold 7,209 shares on April 1 for $165,374.46, meaning he disposed of 11,121 shares in recent activity totaling about $256,093.74.
• GME traded up 3.1% to $24.78 on heavy volume; the company beat EPS estimates ($0.49 vs. $0.37) but missed revenue expectations ($1.10B vs. $1.47B), and analysts maintain a consensus rating of "Reduce" with a $13.50 target.

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Haymond Robinson sold 3,912 shares of GameStop stock in a transaction on Monday, April 13th. The stock was sold at an average price of $23.19, for a total transaction of $90,719.28. Following the transaction, the general counsel directly owned 115,230 shares in the company, valued at approximately $2,672,183.70. This represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Mark Haymond Robinson sold 7,209 shares of GameStop stock. The stock was sold at an average price of $22.94, for a total value of $165,374.46.

GameStop Trading Up 3.1%

GME stock traded up $0.75 during midday trading on Wednesday, hitting $24.78. 11,650,236 shares of the company's stock were exchanged, compared to its average volume of 7,280,394. GameStop Corp. has a one year low of $19.93 and a one year high of $35.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 14.68 and a current ratio of 15.30. The company has a market cap of $11.11 billion, a PE ratio of 33.03 and a beta of 1.86. The stock's fifty day moving average price is $23.64 and its 200-day moving average price is $22.88.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. GameStop had a return on equity of 12.47% and a net margin of 11.53%.The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.47 billion. Research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GameStop

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in GameStop by 58.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company's stock worth $84,528,000 after acquiring an additional 1,141,215 shares during the last quarter. Clear Street Group Inc. bought a new stake in shares of GameStop in the third quarter worth $29,971,000. Y Intercept Hong Kong Ltd acquired a new position in GameStop during the third quarter worth $19,542,000. Jump Financial LLC acquired a new position in GameStop during the fourth quarter worth $7,022,000. Finally, BNP Paribas Financial Markets boosted its holdings in GameStop by 233.5% during the second quarter. BNP Paribas Financial Markets now owns 355,998 shares of the company's stock worth $8,683,000 after purchasing an additional 249,262 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GME. Wall Street Zen cut shares of GameStop from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Weiss Ratings raised shares of GameStop from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $13.50.

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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