GameStop Corp. (NYSE:GME – Get Free Report) Director Lawrence Cheng bought 55,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were acquired at an average price of $18.80 per share, for a total transaction of $1,034,000.00. Following the transaction, the director owned 143,000 shares in the company, valued at approximately $2,688,400. This represents a 62.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
GameStop Price Performance
Shares of NYSE GME opened at $20.42 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.72 and a quick ratio of 11.91. GameStop Corp. has a fifty-two week low of $17.79 and a fifty-two week high of $28.10. The stock has a market capitalization of $9.16 billion, a PE ratio of 13.43 and a beta of 1.72. The business has a fifty day moving average price of $20.06 and a two-hundred day moving average price of $21.99.
GameStop (NYSE:GME – Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The business had revenue of $790.20 million during the quarter, compared to the consensus estimate of $756.85 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. GameStop’s revenue for the quarter was down 18.7% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
Key GameStop News
Here are the key news stories impacting GameStop this week:
- Positive Sentiment: CEO Ryan Cohen purchased 1 million GME shares for approximately $20.4 million, increasing his ownership by 2.61%. Director Alain Attal also bought 5,000 shares for $100,000, while Director James Grube purchased 10,255 shares for roughly $196,000. The purchases may reinforce investor confidence in GameStop’s valuation and strategy. Ryan Cohen GameStop stock purchase filing James Grube GameStop stock purchase
- Positive Sentiment: Director Lawrence Cheng recently bought 55,000 shares for about $1.03 million, increasing his direct stake by 62.5%. The cluster of insider buying following earnings is supporting the bullish case among retail investors. Lawrence Cheng GameStop stock purchase
- Positive Sentiment: GameStop reported adjusted EPS of $0.27, matching consensus, while revenue of $790.2 million exceeded estimates near $756.8 million. Collectibles revenue jumped 57%, providing evidence that the company’s merchandise strategy may be gaining traction. GameStop second-quarter earnings beat
- Neutral Sentiment: Unusually high call-option activity and speculation about how Ryan Cohen may deploy GameStop’s large cash balance are adding to trading momentum, but they do not establish a fundamental change in the business. Reports that GameStop may reconsider an eBay bid also remain unconfirmed. GameStop eBay speculation and earnings
- Negative Sentiment: Revenue declined 18.7% year over year and EPS fell from $0.31 to $0.27, with software and hardware sales weakening. Analysts continue to question whether collectibles growth can offset contraction in GameStop’s traditional gaming operations; one report favors eBay as the cleaner, more profitable investment. GameStop comeback case and eBay comparison
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position in GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock worth $26,000 after purchasing an additional 732 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after buying an additional 886 shares in the last quarter. Advisory Services Network LLC acquired a new stake in GameStop in the third quarter valued at approximately $39,000. Los Angeles Capital Management LLC bought a new stake in shares of GameStop during the fourth quarter worth $39,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of GameStop by 805.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock worth $45,000 after buying an additional 2,014 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.
GameStop Company Profile
GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.
Founded in 1984 as Babbage’s, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.
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