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 GameStop stock in a transaction that occurred on 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 transaction, the insider now owns 29,777 shares of the company’s stock, valued at $670,875.81. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

GameStop Trading Up 10.6 %

GameStop stock opened at $23.34 on Friday. The firm’s 50 day simple moving average is $24.83 and its 200 day simple moving average is $25.73. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The firm has a market capitalization of $10.44 billion, a PE ratio of 129.68 and a beta of -0.29.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was down 28.5% compared to the same quarter last year. Research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush set a $11.50 target price on GameStop in a report on Wednesday, March 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc lifted its position in GameStop by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock valued at $294,000 after purchasing an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. raised its stake in shares of GameStop by 1.9% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after acquiring an additional 518 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after acquiring an additional 520 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of GameStop by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after purchasing an additional 523 shares in the last quarter. Finally, Securian Asset Management Inc. grew its holdings in shares of GameStop by 1.8% during the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock valued at $963,000 after purchasing an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

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.