A company insider recently bought 1,500 shares of GameStop Corp. [GME]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. GameStop Corp. shares valued at $194,865 were purchased by Attal Alain on Mar 24. At $129.91 per share, Attal Alain acquired 1,500 shares. The insider’s holdings grew to 130,423 shares worth approximately $18.52 million following the completion of this transaction.

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Also, Cohen Ryan purchased 100,000 shares, netting a total of over 10,176,342 in proceeds. Following the buying of shares at $101.76 each, the insider now holds 9,101,000 shares.

Before that, Saadeh-Jajeh Diana had sold 743 shares from its account. In a trade valued at $92,875, the SVP, Chief Accounting Officer traded GameStop Corp. shares for $125.00 each. Upon closing the transaction, the insider’s holdings decreased to 743 shares, worth approximately $2.67 million.

As published in a research note from Ascendiant Capital Markets on April 12, 2021, GameStop Corp. [GME] has been rated down from a Hold to a Sell and the price target has been revised to $10 from $12. This represents a -1320.2% premium over Thursday’s closing price. Analysts at Telsey Advisory Group resumed the stock at ‘”an Underperform”‘ outlook in a report released in late March. As of March 24, 2021, Wedbush has decreased its “Neutral” rating to a “an Underperform” for GME. Earlier on January 27, 2021, BofA Securities resumed its rating. Their recommendation was “an Underperform” for GME stock.

Analyzing GME’s Price Performance

On Thursday, GameStop Corp. [NYSE: GME] rose 2.57% to $142.02. The stock’s lowest price that day was $136.73, but it reached a high of $143.99 in the same session. During the last five days, there has been a surge of approximately 9.85%. Over the course of the year, GameStop Corp. shares have dropped approximately -4.29%. Shares of the company reached a 52-week high of $199.41 on 03/29/22 and a 52-week low of $77.58 on 03/14/22. A 50-day SMA is recorded $123.29, while a 200-day SMA reached $147.50. Nevertheless, trading volume fell to 1.66 million shares from 1.96 million shares the previous day.

Support And Resistance Levels for GameStop Corp. (GME)

According to the 24-hour chart, there is a support level at 137.84, which, if violated, would cause prices to drop to 133.65. In the upper region, resistance lies at 145.10. The next price resistance is at 148.17. RSI (Relative Strength Index) is 58.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.36, which suggests the price will increase in the coming days. Percent R is at 28.37%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is GameStop Corp. subject to short interest?

Stocks of GameStop Corp. saw a sharp rise in short interest on Apr 28, 2022 jumping by 1.29 million shares to 13.54 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 12.25 million shares. A jump of 9.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.23.

Which companies own the most shares of GameStop Corp. (GME)?

According to The Vanguard Group, Inc. filings, the company currently owns 5,871,283 shares, which is about 7.69% of the total GME shares outstanding. The investor’s shares have appreciated by 33,650 from its previous 13-F filing of 5837633.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $602,325,552. SSgA Funds Management, Inc. acquire a 1.83% interest valued at $210.09 million while Geode Capital Management LLC purchased a 18,286 stake. A total of 663,661 shares of GameStop Corp. were bought by D. E. Shaw & Co. LP during the quarter, and -8,849 were sold by Northern Trust Investments, Inc. In its current portfolio, Charles Schwab Investment Managem holds 427,588 shares valued at $53.34 million.

In spite of this, 2 analysts ranked GameStop Corp. stock as an Underweight at the end of 2022. On January 25, 2021, Telsey Advisory Group assigned a price target of “an Underperform” to the stock and downgraded coverage with a $33.


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