GameStop Corp. (NYSE:GME) General Counsel Mark Haymond Robinson Sells 4,687 Shares

GameStop Corp. (NYSE:GME - Get Free Report) General Counsel Mark Haymond Robinson sold 4,687 shares of GameStop stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the completion of the sale, the general counsel now directly owns 37,663 shares in the company, valued at approximately $848,547.39. This represents a 11.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

GameStop Stock Up 2.0 %

Shares of NYSE GME traded up $0.47 during midday trading on Wednesday, hitting $23.86. 5,034,240 shares of the company's stock were exchanged, compared to its average volume of 20,178,935. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The company's 50 day moving average price is $24.61 and its 200 day moving average price is $25.80. The firm has a market capitalization of $10.67 billion, a PE ratio of 133.06 and a beta of -0.44.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company's revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, equities research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

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Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after purchasing an additional 684 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of GameStop in the fourth quarter valued at about $37,000. R Squared Ltd bought a new position in GameStop during the fourth quarter worth about $51,000. Bessemer Group Inc. boosted its holdings in GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after purchasing an additional 691 shares during the period. Finally, UMB Bank n.a. boosted its holdings in GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock valued at $57,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GME shares. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush set a $11.50 price objective on shares of GameStop in a research note on Wednesday, March 26th.

GameStop Company Profile

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.