GameStop Corp. (NYSE:GME) CEO Acquires $10,775,000.00 in Stock

GameStop Corp. (NYSE:GME) CEO Ryan Cohen bought 500,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the transaction, the chief executive officer now owns 37,347,842 shares in the company, valued at $804,845,995.10. The trade was a 1.36 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

GameStop Stock Performance

NYSE:GME opened at $25.00 on Friday. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The firm has a market capitalization of $11.18 billion, a PE ratio of 138.91 and a beta of -0.44. The stock has a 50-day simple moving average of $24.50 and a two-hundred day simple moving average of $25.83.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on GME. StockNews.com upgraded 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 GameStop in a research note on Wednesday, March 26th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of GameStop by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock valued at $113,146,000 after acquiring an additional 107,354 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in GameStop in the 4th quarter worth approximately $878,000. Retirement Systems of Alabama boosted its stake in GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after purchasing an additional 138,597 shares during the period. Bank of New York Mellon Corp boosted its position in shares of GameStop by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock worth $80,401,000 after acquiring an additional 60,673 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of GameStop by 5.5% during the 4th quarter. Swiss National Bank now owns 834,228 shares of the company’s stock valued at $26,145,000 after purchasing an additional 43,700 shares during the last quarter. 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.