Lawrence Cheng Purchases 5,000 Shares of GameStop Corp. (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) Director Lawrence Cheng acquired 5,000 shares of GameStop stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of $21.54 per share, with a total value of $107,700.00. Following the completion of the acquisition, the director now directly owns 83,000 shares in the company, valued at $1,787,820. This trade represents a 6.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

GameStop Stock Performance

Shares of NYSE:GME traded up $0.72 on Monday, hitting $24.21. The stock had a trading volume of 16,981,648 shares, compared to its average volume of 20,204,350. The firm’s 50 day moving average price is $24.83 and its 200-day moving average price is $25.77. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 134.53 and a beta of -0.44.

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

Institutional Investors Weigh In On GameStop

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its stake in GameStop by 7.2% in the third quarter. FMR LLC now owns 41,408 shares of the company’s stock worth $949,000 after purchasing an additional 2,793 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of GameStop by 42.9% in the third quarter. Janus Henderson Group PLC now owns 182,905 shares of the company’s stock valued at $4,197,000 after buying an additional 54,900 shares during the last quarter. State Street Corp lifted its position in GameStop by 38.0% during the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after buying an additional 3,070,571 shares in the last quarter. United Services Automobile Association grew its holdings in GameStop by 4.6% during the 3rd quarter. United Services Automobile Association now owns 22,500 shares of the company’s stock worth $516,000 after acquiring an additional 999 shares during the last quarter. Finally, XTX Topco Ltd increased its position in GameStop by 599.0% in the 3rd quarter. XTX Topco Ltd now owns 89,044 shares of the company’s stock valued at $2,042,000 after acquiring an additional 76,305 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GME has been the subject of several recent research reports. Wedbush set a $11.50 price target on shares of GameStop in a research report on Wednesday, March 26th. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

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.