Thursday, 18 April 2024

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GameStop executive sells over $12k in company stock By

© Reuters

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GameStop Corp . (NYSE:) executive Daniel William Moore, who serves as the company’s Principal Financial (NASDAQ:) Officer and Principal Accounting Officer (PFO and PAO), recently sold shares of the company’s stock, according to the latest SEC filings. Moore’s transaction, which occurred on April 2, 2024, involved the sale of 1,052 shares at a price of $11.6088 per share, totaling approximately $12,212.

The sale was conducted to cover applicable withholding taxes associated with the vesting of restricted stock units. It’s important to note that this sale was not a discretionary trade and was solely for the purpose of meeting tax obligations. Following the transaction, Moore still retains 21,911 shares of GameStop’s Class A Common Stock.

Investors and followers of GameStop will often monitor the buying and selling activities of company insiders as an indicator of the executive’s view on the company’s current valuation and future prospects. However, as this recent sale by Moore was tax-related, it may not necessarily provide such insights.

GameStop, a retailer specializing in computer and computer software stores, has been at the center of significant market attention over the past years. The company’s stock has experienced considerable volatility, making insider transactions a point of interest for both retail and institutional investors.

The company’s shares are traded on the New York Stock Exchange under the ticker symbol NYSE:GME. GameStop has its corporate headquarters in Grapevine, Texas, and operates under Delaware’s state of incorporation.

InvestingPro Insights

GameStop Corp. (NYSE:GME) has been navigating a challenging retail landscape, reflected in the company’s recent financial metrics from InvestingPro. With a market capitalization of approximately $3.48 billion, GameStop is currently trading at a high earnings multiple, with an adjusted price-to-earnings (P/E) ratio over the last twelve months as of Q4 2024 standing at 313.36. This valuation comes in the context of a revenue decline, with the company seeing an 11.04% decrease in revenue over the same period.

InvestingPro Tips highlight that GameStop holds more cash than debt on its balance sheet, which could provide some financial stability in the face of these challenges. However, analysts have revised their earnings downwards for the upcoming period, which may be a point of concern for investors. Additionally, the stock has taken a significant hit over the last week, with a price total…

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