GameStop Corp. (NYSE:GME - Get Free Report) CEO Ryan Cohen bought 500,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. This trade represents a 1.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
GameStop Stock Down 3.9 %
Shares of NYSE GME opened at $23.34 on Wednesday. The stock has a market capitalization of $10.43 billion, a PE ratio of 129.67 and a beta of -0.44. The firm has a fifty day moving average of $24.61 and a 200-day moving average of $25.80. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83.
GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm's revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. Equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on GME shares. Wedbush set a $11.50 price objective on GameStop in a research report on Wednesday, March 26th. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.
Read Our Latest Stock Report on GME
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of GME. CIBC Asset Management Inc raised its stake in shares of GameStop by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock valued at $294,000 after acquiring an additional 502 shares during the period. Christensen King & Associates Investment Services Inc. grew its stake in shares of GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock valued at $853,000 after buying an additional 518 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after buying an additional 520 shares during the period. Crossmark Global Holdings Inc. lifted its position in GameStop by 2.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company's stock worth $575,000 after acquiring an additional 523 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its holdings in GameStop by 1.8% in the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock worth $963,000 after acquiring an additional 557 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.
About GameStop
(
Get Free Report)
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.
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