GameStop Corp. (NYSE:GME) Director Lawrence Cheng Acquires 5,000 Shares

GameStop Corp. (NYSE:GME - Get Free Report) Director Lawrence Cheng bought 5,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost of $21.54 per share, with a total value of $107,700.00. Following the purchase, the director now directly owns 83,000 shares of the company's stock, valued at approximately $1,787,820. This represents a 6.41 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

GameStop Stock Performance

GME stock traded up $1.32 during trading on Friday, hitting $26.34. 10,918,787 shares of the company's stock traded hands, compared to its average volume of 20,354,994. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The business has a fifty day simple moving average of $24.51 and a 200 day simple moving average of $25.86. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 146.35 and a beta of -0.44.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS 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 the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm's revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. Research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On GameStop

Large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in GameStop by 7.2% during the 3rd quarter. FMR LLC now owns 41,408 shares of the company's stock worth $949,000 after purchasing an additional 2,793 shares during the period. Janus Henderson Group PLC raised its holdings in shares of GameStop by 42.9% in the third quarter. Janus Henderson Group PLC now owns 182,905 shares of the company's stock valued at $4,197,000 after acquiring an additional 54,900 shares in the last quarter. State Street Corp lifted its stake in GameStop by 38.0% in the third quarter. State Street Corp now owns 11,143,759 shares of the company's stock worth $255,526,000 after acquiring an additional 3,070,571 shares during the period. United Services Automobile Association grew its holdings in GameStop by 4.6% during the 3rd quarter. United Services Automobile Association now owns 22,500 shares of the company's stock worth $516,000 after acquiring an additional 999 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of GameStop by 599.0% in the 3rd quarter. XTX Topco Ltd now owns 89,044 shares of the company's stock valued at $2,042,000 after purchasing an additional 76,305 shares in the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GME has been the topic of a number of research analyst reports. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price objective on GameStop in a research note on Wednesday, March 26th.

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.