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 value of $36,228.24. Following the sale, the insider now owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

GameStop Trading Up 10.6 %

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

GameStop (NYSE:GME) last posted its earnings results 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. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. On average, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On GameStop

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in GameStop by 29.6% during the third quarter. The Manufacturers Life Insurance Company now owns 303,826 shares of the company’s stock worth $6,967,000 after acquiring an additional 69,340 shares during the period. FMR LLC boosted its holdings in shares of GameStop by 7.2% in the 3rd quarter. FMR LLC now owns 41,408 shares of the company’s stock worth $949,000 after buying an additional 2,793 shares during the last quarter. BNP Paribas Financial Markets grew its position in GameStop by 30.3% during the third quarter. BNP Paribas Financial Markets now owns 153,745 shares of the company’s stock valued at $3,525,000 after buying an additional 35,794 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of GameStop by 40.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,494 shares of the company’s stock valued at $1,639,000 after acquiring an additional 20,509 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GameStop by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 728,686 shares of the company’s stock valued at $16,709,000 after purchasing an additional 100,430 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GME. StockNews.com raised shares of 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 shares of GameStop in a report on Wednesday, March 26th.

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.