Insider Buying: GameStop Corp. (NYSE:GME) Director Buys $102,879.00 in Stock

GameStop Corp. (NYSE:GME) Director Lawrence Cheng purchased 4,140 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

GameStop Stock Up 2.4 %

Shares of GameStop stock opened at $25.56 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The stock has a market capitalization of $8.98 billion, a PE ratio of 321.79 and a beta of -0.10. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The company has a 50-day simple moving average of $24.72 and a two-hundred day simple moving average of $17.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after purchasing an additional 289,947 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of GameStop by 11.1% during the first quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock valued at $18,519,000 after purchasing an additional 147,655 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock valued at $12,662,000 after purchasing an additional 25,159 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after purchasing an additional 1,400 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wedbush lowered their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a report on Wednesday.

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.