Key Points
- GameStop CEO Ryan Cohen purchased 450,000 shares at an average price of $23.48, investing approximately $10.6 million and increasing his direct ownership to 40.95 million shares.
- The purchase follows two recent acquisitions totaling more than 2.15 million shares, indicating continued insider buying by Cohen.
- Despite the insider buying, analysts maintain a consensus “Hold” rating. GameStop reported quarterly revenue above estimates, but revenue declined 18.7% year over year.
GameStop Corp. (NYSE:GME - Get Free Report) CEO Ryan Cohen purchased 450,000 shares of GameStop stock in a transaction dated Tuesday, September 29th. The shares were bought at an average price of $23.48 per share, with a total value of $10,566,000.00. Following the completion of the acquisition, the chief executive officer directly owned 40,948,522 shares of the company's stock, valued at approximately $961,471,296.56. This represents a 1.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ryan Cohen also recently made the following trade(s):
- On Monday, September 21st, Ryan Cohen purchased 1,150,680 shares of GameStop stock. The stock was bought at an average cost of $22.94 per share, with a total value of $26,396,599.20.
- On Thursday, September 10th, Ryan Cohen purchased 1,000,000 shares of GameStop stock. The stock was purchased at an average price of $20.38 per share, for a total transaction of $20,380,000.00.
GameStop Stock Performance
Shares of GameStop stock opened at $23.74 on Wednesday. GameStop Corp. has a 1 year low of $17.79 and a 1 year high of $28.10. The firm's 50-day moving average is $20.30 and its 200 day moving average is $21.88. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 15.62 and a beta of 1.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.72 and a quick ratio of 8.07.
GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. The business had revenue of $790.20 million during the quarter, compared to analyst estimates of $756.85 million. GameStop had a net margin of 25.16% and a return on equity of 13.57%. GameStop's revenue was down 18.7% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS.
Analyst Ratings Changes
GME has been the subject of several analyst reports. Wall Street Zen downgraded shares of GameStop from a "buy" rating to a "hold" rating in a research report on Monday, September 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of GameStop in a research note on Wednesday, July 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".
Get Our Latest Stock Analysis on GME
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in GME. WINTON GROUP Ltd purchased a new stake in GameStop in the second quarter worth approximately $5,111,000. Sterling Investment Advisors Ltd. boosted its stake in shares of GameStop by 33.8% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 18,316 shares of the company's stock worth $404,000 after buying an additional 4,627 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of GameStop in the second quarter worth $1,866,000. AlphaGrep UK Ltd bought a new position in GameStop in the second quarter valued at about $708,000. Finally, Public Employees Retirement System of Ohio purchased a new position in GameStop in the second quarter worth about $2,578,000. 29.21% of the stock is owned by hedge funds and other institutional investors.
GameStop Company Profile
(
Get Free Report)
GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.
GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.
See Also
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