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

GameStop Corp. (NYSE:GME) Director Lawrence Cheng purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average cost of $21.54 per share, with a total value of $107,700.00. Following the completion of the purchase, the director now owns 83,000 shares of the company’s stock, valued at $1,787,820. The trade was a 6.41 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

GameStop Price Performance

Shares of GME stock opened at $24.21 on Tuesday. The company has a market cap of $10.83 billion, a PE ratio of 134.53 and a beta of -0.44. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The stock’s 50 day simple moving average is $24.77 and its two-hundred day simple moving average is $25.81.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $0.21 earnings per share. GameStop’s revenue was down 28.5% on a year-over-year basis. Equities research analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On GameStop

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after purchasing an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of GameStop during the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in GameStop during the 4th quarter valued at $51,000. Bessemer Group Inc. grew its position 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 acquiring an additional 691 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after purchasing an additional 682 shares during the period. 29.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GME has been the subject of a number of recent research reports. Wedbush set a $11.50 target price on shares of GameStop in a 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.

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.