Lawrence Cheng Buys 4,140 Shares of GameStop Corp. (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) Director Lawrence Cheng purchased 4,140 shares of the stock in a transaction dated Monday, July 8th. The stock was purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the acquisition, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GameStop Stock Up 2.4 %

GME stock opened at $25.56 on Friday. The firm has a 50 day moving average of $24.72 and a 200 day moving average of $17.61. The stock has a market capitalization of $8.98 billion, a PE ratio of 321.79 and a beta of -0.10. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The firm’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) earnings per share. Sell-side analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Institutional Trading of GameStop

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in GameStop by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after buying an additional 289,947 shares during the last quarter. Van ECK Associates Corp raised its position in GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after buying an additional 147,655 shares during the last quarter. Principal Financial Group Inc. raised its position in GameStop by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after buying an additional 25,159 shares during the last quarter. Finally, Swiss National Bank raised its position in GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after buying an additional 1,400 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GME has been the topic of a number of recent analyst reports. Wedbush lowered their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, June 12th. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Wednesday.

About GameStop

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.