Key Points
- GameStop General Counsel Mark Robinson sold 3,882 shares for approximately $98,680, reducing his holdings by 4.01% to 93,012 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- GameStop shares opened at $25.35 and were trading near their 52-week high of $26.88, with a market capitalization of approximately $12.79 billion. The company’s latest quarter matched earnings expectations and exceeded revenue estimates, though revenue declined 18.7% year over year.
- Despite insider sales by Robinson and another insider, other directors—including Nat Turner and Ryan Cohen—have reportedly purchased shares. Analysts surveyed maintain an overall “Hold” rating, while institutional investors own about 29.21% of the company.
GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Robinson sold 3,882 shares of the company's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $25.42, for a total transaction of $98,680.44. Following the completion of the transaction, the general counsel owned 93,012 shares in the company, valued at approximately $2,364,365.04. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Haymond Robinson also recently made the following trade(s):
- On Thursday, October 1st, Mark Robinson sold 7,296 shares of GameStop stock. The stock was sold at an average price of $24.26, for a total transaction of $177,000.96.
GameStop Trading Up 2.6%
Shares of GME opened at $25.35 on Tuesday. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 16.68 and a beta of 1.63. 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 Corp. has a 1-year low of $17.79 and a 1-year high of $26.88. The company has a 50-day moving average of $20.56 and a 200 day moving average of $21.91.
GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $790.20 million during the quarter, compared to the consensus estimate of $756.85 million. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The company's revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.
Key Stories Impacting GameStop
Here are the key news stories impacting GameStop this week:
- Positive Sentiment: Director Nat Turner reportedly purchased 10,462 GameStop shares, adding to a series of open-market insider purchases that investors may view as a vote of confidence. GameStop director Nat Turner buys 10,462 shares in insider filing
- Positive Sentiment: Reports highlighted that Ryan Cohen and other directors have been buying GameStop shares as the stock climbed approximately 35% in a month. Those purchases are reinforcing bullish sentiment and helping explain the stock’s momentum. GameStop Just Ripped 35% in a Month
- Neutral Sentiment: GameStop is trading near its 52-week high, with above-average recent volume. The stock’s strong balance-sheet liquidity and recent profitability may be supporting the rally, although revenue in the latest reported quarter declined year over year.
- Negative Sentiment: General Counsel Mark Robinson sold 3,882 shares for approximately $98,680 on October 5 and 7,296 shares for approximately $177,001 on October 1. Both transactions were made under a pre-arranged Rule 10b5-1 plan, which reduces their value as a discretionary bearish signal but still represents insider selling.
- Negative Sentiment: Insider Daniel Moore sold 7,297 shares for approximately $177,025 on October 1. The sales by Robinson and Moore could temper enthusiasm around the more prominently reported insider purchases.
Wall Street Analyst Weigh In
GME has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of GameStop in a report on Wednesday, July 29th. Wall Street Zen downgraded GameStop from a "buy" rating to a "hold" rating in a report on Monday, September 7th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, GameStop has an average rating of "Hold".
Check Out Our Latest Stock Report on GameStop
Hedge Funds Weigh In On GameStop
Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its position in GameStop by 805.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company's stock valued at $45,000 after acquiring an additional 2,014 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of GameStop in the 2nd quarter valued at $51,000. Caitong International Asset Management Co. Ltd bought a new position in shares of GameStop in the 4th quarter worth $54,000. Global Assets Advisory LLC purchased a new stake in shares of GameStop during the 1st quarter worth $60,000. Finally, CX Institutional lifted its stake in shares of GameStop by 537.1% during the 2nd quarter. CX Institutional now owns 3,313 shares of the company's stock worth $73,000 after purchasing an additional 2,793 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.
About GameStop
(
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.
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