GameStop Corp. (NYSE:GME – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $26.53, but opened at $25.11. GameStop shares last traded at $25.1630, with a volume of 13,385,139 shares traded.
GameStop News Roundup
Here are the key news stories impacting GameStop this week:
- Positive Sentiment: Retail and meme-stock interest around the eBay bid remains strong — social chatter and buyer enthusiasm are supporting the stock despite deal uncertainty. GameStop’s $56B pursuit of eBay stirs social media hype and doubts
- Positive Sentiment: Management is selling a clear operational pitch: Cohen’s $2B cost-cutting plan and his public explanations for how he’d fix eBay give the market a tangible playbook that can justify a takeover premium. GameStop’s Ryan Cohen explains how he would turn around eBay
- Positive Sentiment: Ryan Cohen’s improved TV appearance (Fox Business) helped tone down concerns after a viral CNBC clip, which may have reassured some investors about leadership and communication. GameStop CEO Ryan Cohen is all smiles in first televised interview since bizarre CNBC appearance
- Neutral Sentiment: Coverage notes the bid’s financing is described as “highly confident” rather than committed capital — that language keeps the bid alive but increases conditionality and uncertainty about closing. GameStop’s eBay deal hinges on ‘highly confident’ money — not committed capital
- Neutral Sentiment: Some outlets focus on social-media debate and skepticism — that keeps volatility high and trading volume elevated, a mixed signal for longer‑term investors. Want to Support GameStop’s Bid for eBay? You Can Buy CEO Ryan Cohen’s Stuff—On eBay
- Negative Sentiment: High-profile exits weigh on sentiment — Michael Burry has sold his entire GameStop stake, a headline that triggered selling and raises questions about conviction from sophisticated investors. Michael Burry dumps GameStop stock after eBay bid
- Negative Sentiment: Prominent shareholders and analysts are skeptical — investor Bill Smead urged eBay not to sell, and other coverage flags big leverage and conditional financing risk if GameStop proceeds. Those voices make a deal less certain and pressure the stock if odds of closing fall. EBay Shouldn’t Sell to GameStop. That’s the Advice of This Famous Investor.
- Negative Sentiment: Optics of corporate spending: job listings suggest GameStop is hiring people to manage Cohen’s personal projects (company says he’ll pay personally) — that raises governance/optics concerns for some investors. GameStop is hiring someone to handle CEO Ryan Cohen’s home renovations. The company says he’ll pay them personally.
Wall Street Analyst Weigh In
GME has been the topic of several research reports. Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of GameStop from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GameStop presently has a consensus rating of “Reduce” and an average price target of $13.50.
GameStop Stock Up 4.0%
The company’s fifty day simple moving average is $23.88 and its 200-day simple moving average is $22.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 15.30 and a quick ratio of 14.68. The firm has a market capitalization of $11.30 billion, a PE ratio of 33.60 and a beta of 1.84.
GameStop (NYSE:GME – Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. GameStop had a net margin of 11.53% and a return on equity of 12.47%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.47 billion.
Insider Buying and Selling at GameStop
In other news, insider Daniel William Moore sold 7,210 shares of GameStop stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the completion of the sale, the insider directly owned 101,014 shares in the company, valued at approximately $2,317,261.16. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 7,209 shares of GameStop stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total transaction of $165,374.46. Following the sale, the general counsel owned 97,946 shares of the company’s stock, valued at $2,246,881.24. The trade was a 6.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,331 shares of company stock worth $421,491 over the last ninety days. Corporate insiders own 8.58% of the company’s stock.
Institutional Investors Weigh In On GameStop
Institutional investors and hedge funds have recently made changes to their positions in the stock. AGF Management Ltd. lifted its stake in shares of GameStop by 69.3% during the third quarter. AGF Management Ltd. now owns 147,068 shares of the company’s stock worth $4,012,000 after buying an additional 60,182 shares during the period. Van ECK Associates Corp lifted its stake in shares of GameStop by 58.3% during the third quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock worth $84,528,000 after buying an additional 1,141,215 shares during the period. South Dakota Investment Council acquired a new stake in shares of GameStop during the third quarter worth $2,095,000. Clear Street Group Inc. acquired a new stake in shares of GameStop during the third quarter worth $29,971,000. Finally, Flow Traders U.S. LLC lifted its stake in shares of GameStop by 189.1% during the third quarter. Flow Traders U.S. LLC now owns 126,543 shares of the company’s stock worth $3,452,000 after buying an additional 82,772 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.
GameStop Company Profile
GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.
Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.
Further Reading
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