TLDR
- CEO Ryan Cohen purchased 1,150,680 GME stock at an average price of $22.94, spending roughly $26.4 million
- Director Alain Attal also bought 17,500 stock at $22.97, totaling $401,975, plus $100,000 earlier in September
- GME rose 3.2% in extended trading following the insider buying news
- GameStop’s most recent quarterly EPS of $0.27 met estimates; revenue of $790.2 million beat expectations but fell 18.7% year over year
- Analysts maintain an average “Hold” rating on the stock
GameStop (GME) stock jumped 3.2% in extended trading Monday after CEO Ryan Cohen disclosed a $26.4 million personal purchase of GME stock.
Cohen bought 1,150,680 stock on September 21 at a weighted average price of $22.94 per share. Prices ranged from $22.76 to $23.02 across multiple transactions. His total directly owned stake now sits at 40,498,522 stock, valued at approximately $174.98 million.
The move brought fresh attention to a stock that has been quietly building a case for insider confidence.
It wasn’t just Cohen either. Director Alain Attal also made two purchases recently. He bought 5,000 stock on September 10 at $20.00 per share, totaling $100,000, and followed that up on September 21 with 17,500 stock at $22.97, adding another $401,975 to his position. That brings Attal’s total holding to 618,964 stock, a 2.91% increase.
GME was trading at $22.82 during Monday’s session, up $0.18 on the day. Volume came in at 9.5 million, above the average of 7.67 million.
Recent Earnings in Focus
GameStop reported quarterly earnings on September 8. EPS came in at $0.27, matching analyst expectations. Revenue hit $790.2 million, beating the consensus estimate of $756.85 million.
However, that revenue figure was down 18.7% compared to the same quarter last year. The prior year quarter posted EPS of $0.31. GameStop’s return on equity stands at 13.57%, with a net margin of 25.16%.
The stock carries a price-to-earnings ratio of 15.01, a market cap of $11.51 billion, and a beta of 1.72. Its 50-day moving average sits at $20.05, while the 200-day is at $21.89. The 52-week range runs from $17.79 to $28.10.
Analyst and Institutional View
Wall Street remains cautious. Both Weiss Ratings and Wall Street Zen hold “Hold” ratings on GME. Wall Street Zen actually downgraded the stock from “Buy” to “Hold” on September 7.
On the institutional side, Rockefeller Capital Management raised its GME position by 805.6% in Q4, while several other firms initiated new positions earlier in the year. Institutional ownership overall stands at 29.21%.
Jim Cramer commented on September 17 that GameStop is a buy, pointing to its profitability, cash reserves, and turnaround progress.
There’s also been unverified speculation that Keith Gill, known as “Roaring Kitty,” may be active again. No confirmed business catalyst has been tied to that speculation.
The stock’s 50-day moving average of $20.05 is notably below the current price, suggesting the recent buying has pushed GME above its short-term trend line. GameStop holds a current ratio of 8.72 and a debt-to-equity ratio of 0.68.
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