GameStop Corp. (NYSE:GME) Director Buys $107,700.00 in Stock

GameStop Corp. (NYSE:GME) Director Lawrence Cheng bought 5,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $21.54 per share, for a total transaction of $107,700.00. Following the acquisition, the director now directly owns 83,000 shares of the company’s stock, valued at approximately $1,787,820. This represents a 6.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

GameStop Stock Up 8.4 %

Shares of NYSE:GME opened at $25.36 on Thursday. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 140.90 and a beta of -0.44. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The business’s 50 day moving average is $24.52 and its 200 day moving average is $25.82.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GME shares. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 target price on GameStop in a research report on Wednesday, March 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Selway Asset Management boosted its position in GameStop by 57.9% in the first quarter. Selway Asset Management now owns 45,000 shares of the company’s stock worth $1,004,000 after purchasing an additional 16,500 shares during the last quarter. GAMMA Investing LLC boosted its position in GameStop by 3,692.6% in the first quarter. GAMMA Investing LLC now owns 135,170 shares of the company’s stock worth $3,017,000 after purchasing an additional 131,606 shares during the last quarter. California State Teachers Retirement System boosted its position in GameStop by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 394,588 shares of the company’s stock worth $12,366,000 after purchasing an additional 13,576 shares during the last quarter. United Advisor Group LLC boosted its position in GameStop by 216.8% in the fourth quarter. United Advisor Group LLC now owns 42,740 shares of the company’s stock worth $1,339,000 after purchasing an additional 29,250 shares during the last quarter. Finally, Forum Financial Management LP purchased a new position in GameStop in the fourth quarter worth $206,000. 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.