Ryan Cohen Acquires 500,000 Shares of GameStop Corp. (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) CEO Ryan Cohen bought 500,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the acquisition, the chief executive officer now directly owns 37,347,842 shares of the company’s stock, valued at approximately $804,845,995.10. This represents a 1.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

GameStop Price Performance

Shares of GME stock opened at $25.36 on Thursday. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 140.90 and a beta of -0.44. The company’s fifty day simple moving average is $24.52 and its two-hundred day simple moving average is $25.82. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. GameStop’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. Equities research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On GameStop

A number of hedge funds have recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after buying an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in GameStop during the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in GameStop in the 4th quarter worth approximately $51,000. Bessemer Group Inc. lifted its position in GameStop by 67.2% in the fourth 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 last quarter. Finally, UMB Bank n.a. boosted its stake in shares of GameStop by 59.9% during the fourth 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. 29.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GME. Wedbush set a $11.50 price target on GameStop in a research report on Wednesday, March 26th. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report 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.