GameStop (NYSE:GME) Trading Down 3.9% Following Insider Selling

GameStop Corp. (NYSE:GME - Get Free Report) dropped 3.9% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $11.31 and last traded at $11.43. Approximately 1,803,283 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 3,822,200 shares. The stock had previously closed at $11.90.

Specifically, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares of the company's stock, valued at approximately $746,615.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The disclosure for this sale can be found here. Insiders sold 27,207 shares of company stock worth $285,048 in the last 90 days. 12.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GME has been the topic of several research reports. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a report on Wednesday, March 27th. Wedbush cut their target price on shares of GameStop from $6.00 to $5.60 and set an "underperform" rating on the stock in a research note on Wednesday, March 27th.

GameStop Price Performance

The company has a market cap of $3.45 billion, a PE ratio of 564.78 and a beta of -0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The company has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $14.01.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the business earned $0.16 EPS. The firm's revenue was down 19.4% compared to the same quarter last year. Sell-side analysts expect that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GameStop

A number of institutional investors have recently added to or reduced their stakes in GME. IFP Advisors Inc increased its position in shares of GameStop by 99.7% during the third quarter. IFP Advisors Inc now owns 2,708 shares of the company's stock worth $45,000 after acquiring an additional 1,352 shares during the last quarter. Fifth Third Bancorp increased its holdings in GameStop by 175.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company's stock worth $47,000 after purchasing an additional 1,819 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of GameStop in the 4th quarter valued at approximately $55,000. First United Bank & Trust purchased a new position in shares of GameStop during the 4th quarter valued at approximately $70,000. Finally, Exchange Traded Concepts LLC grew its position in shares of GameStop by 278.9% during the third quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company's stock worth $108,000 after buying an additional 4,834 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

GameStop Company Profile

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.