Ryan Cohen Acquires 1,000,000 Shares of GameStop (NYSE:GME) Stock

GameStop Corp. (NYSE:GME) CEO Ryan Cohen purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average cost of $20.38 per share, for a total transaction of $20,380,000.00. Following the transaction, the chief executive officer owned 39,347,842 shares in the company, valued at $801,909,019.96. This represents a 2.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

GameStop Price Performance

GME stock opened at $21.11 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 11.91 and a current ratio of 8.72. The business has a 50-day simple moving average of $20.03 and a two-hundred day simple moving average of $21.98. The company has a market capitalization of $10.65 billion, a P/E ratio of 13.89 and a beta of 1.72. GameStop Corp. has a 52-week low of $17.79 and a 52-week high of $28.10.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The company had revenue of $790.20 million for the quarter, compared to analyst estimates of $756.85 million. During the same quarter last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was down 18.7% on a year-over-year basis.

Trending Headlines about GameStop

Here are the key news stories impacting GameStop this week:

• Positive Sentiment: CEO and Chairman Ryan Cohen purchased 1 million GameStop shares at an average price of approximately $20.38, committing about $20.4 million and raising his direct ownership to more than 39.3 million shares. The purchase is being viewed as a significant vote of confidence in GME’s valuation and strategy. GameStop CEO insider purchase
• Positive Sentiment: Director Alain Attal bought 5,000 shares for $100,000, increasing his stake to 601,464 shares. The purchase adds to a recent cluster of insider buying, including Director James Grube’s acquisition of 10,255 shares for roughly $196,000. Alain Attal GameStop share purchase
• Positive Sentiment: GameStop announced that select previously closed stores are reopening nationwide. The move suggests management sees potential for improved retail traffic and demand, while recent collectibles growth offers a possible avenue for diversification beyond traditional video-game sales. GameStop store reopenings
• Neutral Sentiment: An analyst rating upgrade described GameStop as more interesting following its earnings and insider activity, but broader analyst coverage remains cautious, with the average rating still at Hold. GameStop rating upgrade
• Negative Sentiment: GameStop’s latest quarterly revenue of $790.2 million exceeded estimates, and EPS matched consensus at $0.27, but revenue declined 18.7% year over year and EPS fell from $0.31. Weak software and hardware sales continue to challenge the turnaround, while analysts question whether collectibles growth can offset the contraction. GameStop earnings and outlook

Wall Street Analyst Weigh In

Several analysts have recently commented on GME shares. Weiss Ratings reiterated a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. Wall Street Zen cut shares of GameStop from a “buy” rating to a “hold” rating in a research report on Monday, September 7th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Hedge Funds Weigh In On GameStop

Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in GameStop by 0.8% in the fourth quarter. State Street Corp now owns 12,469,631 shares of the company’s stock worth $250,390,000 after buying an additional 96,802 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of GameStop by 2,043.5% in the second quarter. California State Teachers Retirement System now owns 10,573,648 shares of the company’s stock worth $233,466,000 after acquiring an additional 10,080,362 shares during the period. Geode Capital Management LLC boosted its stake in GameStop by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,340,631 shares of the company’s stock worth $147,431,000 after purchasing an additional 92,996 shares during the period. Invesco Ltd. grew its stake in GameStop by 5.5% during the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock valued at $110,990,000 after acquiring an additional 210,523 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of GameStop by 189.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock valued at $90,046,000 after purchasing an additional 2,557,079 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.

Founded in 1984 as Babbage’s, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.