Daniel William Moore Sells 1,608 Shares of GameStop Corp. (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) insider Daniel William Moore sold 1,608 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the sale, the insider now directly owns 29,777 shares in the company, valued at $670,875.81. This trade represents a 5.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

GameStop Stock Performance

GME stock traded up $2.24 during trading on Friday, hitting $23.34. The stock had a trading volume of 20,513,368 shares, compared to its average volume of 20,155,003. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 129.68 and a beta of -0.29. The company’s 50 day moving average price is $24.83 and its two-hundred day moving average price is $25.69. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $0.21 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis. As a group, sell-side analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GME has been the subject of several research reports. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on GameStop in a research report on Wednesday, March 26th.

Institutional Investors Weigh In On GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in GME. State Street Corp boosted its stake in GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after buying an additional 3,070,571 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $1,226,775,000 after acquiring an additional 2,036,032 shares during the period. Slate Path Capital LP acquired a new stake in shares of GameStop in the fourth quarter worth approximately $60,361,000. Geode Capital Management LLC grew its holdings in GameStop by 41.8% in the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after purchasing an additional 1,852,088 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in GameStop by 606.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company’s stock worth $51,735,000 after purchasing an additional 1,417,156 shares during the last quarter. Hedge funds and other institutional investors 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.