Insider Buying: GameStop Corp. (NYSE:GME) Director Buys 5,250 Shares of Stock

GameStop Corp. (NYSE:GME) Director Raul J. Fernandez purchased 5,250 shares of the stock in a transaction on Wednesday, September 18th. The stock was acquired at an average cost of $4.62 per share, for a total transaction of $24,255.00. Following the acquisition, the director now directly owns 33,219 shares in the company, valued at $153,471.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of GameStop stock traded up $0.32 during trading on Friday, hitting $5.37. 5,891,361 shares of the stock traded hands, compared to its average volume of 7,837,931. The firm’s fifty day moving average is $4.63 and its 200-day moving average is $6.16. The company has a quick ratio of 0.59, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. GameStop Corp. has a 52 week low of $3.15 and a 52 week high of $16.90. The stock has a market cap of $485.77 million, a price-to-earnings ratio of 2.51 and a beta of 0.42.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.10). GameStop had a positive return on equity of 15.38% and a negative net margin of 13.59%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, analysts forecast that GameStop Corp. will post 1.11 earnings per share for the current fiscal year.

GME has been the subject of several recent research reports. ValuEngine upgraded GameStop from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Benchmark decreased their price target on GameStop from $5.00 to $3.00 and set a “sell” rating for the company in a report on Wednesday, September 11th. They noted that the move was a valuation call. Loop Capital set a $4.00 price objective on GameStop and gave the company a “hold” rating in a research note on Thursday, September 12th. Bank of America reduced their price objective on GameStop from $4.00 to $2.50 and set an “underperform” rating for the company in a research note on Tuesday, August 20th. Finally, Wedbush dropped their price target on GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. GameStop presently has an average rating of “Hold” and a consensus price target of $8.35.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can grew its position in shares of GameStop by 274.9% in the 2nd quarter. Bank of Montreal Can now owns 9,605 shares of the company’s stock worth $52,000 after buying an additional 7,043 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of GameStop in the 2nd quarter valued at approximately $65,000. OneAscent Financial Services LLC purchased a new position in shares of GameStop in the 2nd quarter valued at approximately $70,000. Meeder Asset Management Inc. lifted its stake in shares of GameStop by 2,168.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 14,090 shares of the company’s stock valued at $76,000 after purchasing an additional 13,469 shares during the period. Finally, Strs Ohio purchased a new position in GameStop during the second quarter valued at $79,000.

GameStop Company Profile

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

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