Insider Selling: GameStop Corp. (NYSE:GME) General Counsel Sells 11,055 Shares of Stock

GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the completion of the sale, the general counsel directly owned 116,781 shares of the company’s stock, valued at approximately $2,823,764.58. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, July 24th, Mark Haymond Robinson sold 30 shares of GameStop stock. The stock was sold at an average price of $23.81, for a total value of $714.30.
• On Wednesday, July 2nd, Mark Haymond Robinson sold 1,269 shares of GameStop stock. The shares were sold at an average price of $23.95, for a total transaction of $30,392.55.

GameStop Stock Performance

Shares of NYSE:GME opened at $23.30 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. The business’s fifty day moving average price is $25.89 and its two-hundred day moving average price is $26.00. GameStop Corp. has a fifty-two week low of $18.73 and a fifty-two week high of $35.81. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 50.65 and a beta of -0.81.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.13. The business had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. As a group, analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On GameStop

Institutional investors and hedge funds have recently bought and sold shares of the business. SLT Holdings LLC increased its stake in shares of GameStop by 22.3% in the second quarter. SLT Holdings LLC now owns 44,633 shares of the company’s stock valued at $1,089,000 after buying an additional 8,145 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in GameStop by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 114,500 shares of the company’s stock worth $2,793,000 after buying an additional 600 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in GameStop during the 2nd quarter worth about $45,000. Sterling Investment Advisors Ltd. acquired a new stake in GameStop in the 2nd quarter valued at about $216,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of GameStop by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 130,424 shares of the company’s stock worth $3,181,000 after acquiring an additional 5,613 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush raised shares of GameStop to a “strong sell” rating in a research report on Tuesday, July 1st.

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.