GameStop (NYSE:GME) Trading 7.1% Higher on Insider Buying Activity

GameStop Corp. (NYSE:GME) traded up 7.1% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $26.45 and last traded at $26.35. 9,618,838 shares traded hands during trading, a decline of 63% from the average session volume of 26,194,750 shares. The stock had previously closed at $24.60.

Specifically, insider Daniel William Moore sold 7,779 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, the insider now directly owns 13,606 shares of the company’s stock, valued at approximately $138,781.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lawrence Cheng bought 4,140 shares of the stock in a transaction dated Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, with a total value of $102,879.00. Following the purchase, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, 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. In the last three months, insiders have sold 24,647 shares of company stock valued at $300,183. Company insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GME shares. Wedbush decreased their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Wednesday.

GameStop Price Performance

The stock has a market capitalization of $9.19 billion, a PE ratio of 329.42 and a beta of -0.10. The stock’s 50 day moving average is $24.44 and its two-hundred day moving average is $17.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. During the same period last year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was down 28.7% compared to the same quarter last year. On average, equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GME. Vanguard Group Inc. lifted its stake in GameStop by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company’s stock worth $416,160,000 after purchasing an additional 345,488 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in GameStop by 12.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after purchasing an additional 289,947 shares in the last quarter. Van ECK Associates Corp lifted its stake in GameStop by 11.1% in the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after purchasing an additional 147,655 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in GameStop by 527.0% in the 4th quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock worth $2,576,000 after purchasing an additional 123,516 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in GameStop by 659.6% in the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after purchasing an additional 121,328 shares in the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

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.