Key Points
- Lawrence Cheng, a GameStop director, bought 5,000 shares on Jan. 23 at an average price of $22.87 for about $114,350, raising his direct stake to 88,000 shares (a 6.02% increase).
- This trade is part of a broader wave of insider accumulation — including a reported $10.56M purchase by the CEO and a disclosed stake by Michael Burry — which has helped push the stock higher amid heavy trading.
- Fundamentals and analyst sentiment remain mixed: Q3 EPS beat estimates while revenue fell year-over-year, and Weiss Ratings recently downgraded GME to a "sell" with a consensus price target of $13.50.
GameStop Corp. (NYSE:GME - Get Free Report) Director Lawrence Cheng bought 5,000 shares of the firm's stock in a transaction dated Friday, January 23rd. The stock was purchased at an average price of $22.87 per share, with a total value of $114,350.00. Following the completion of the purchase, the director directly owned 88,000 shares of the company's stock, valued at approximately $2,012,560. This trade represents a 6.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
GameStop Price Performance
GME opened at $24.00 on Tuesday. GameStop Corp. has a twelve month low of $19.93 and a twelve month high of $35.81. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 29.27 and a beta of -1.23. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $21.63 and a 200 day simple moving average of $22.83.
GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The company had revenue of $821.00 million during the quarter, compared to analysts' expectations of $987.29 million. GameStop had a net margin of 11.08% and a return on equity of 9.75%. The firm's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 EPS. Equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.
GameStop News Summary
Here are the key news stories impacting GameStop this week:
Institutional Investors Weigh In On GameStop
Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of GameStop by 28.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,025,993 shares of the company's stock worth $25,024,000 after buying an additional 226,234 shares during the last quarter. Marshall Wace LLP raised its stake in GameStop by 347.7% during the second quarter. Marshall Wace LLP now owns 6,657,678 shares of the company's stock worth $162,381,000 after acquiring an additional 5,170,741 shares during the period. AGF Management Ltd. acquired a new stake in GameStop during the second quarter worth about $2,119,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in GameStop in the second quarter worth about $350,000. Finally, Clear Street LLC acquired a new position in GameStop in the second quarter valued at approximately $57,433,000. 29.21% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings downgraded GameStop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, January 16th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell" and a consensus price target of $13.50.
View Our Latest Report on GME
GameStop Company Profile
(
Get Free Report)
GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop's retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.
Originally founded in 1984 as Babbage's in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.
Further Reading
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