Recent Insider Activity Could Benefit GameStop Corp. (GME)


GameStop Corp.’s filing revealed that its Chief Operating Officer Patel Nir Vinay unloaded Company’s shares for reported $2.29 million on Jul 10. In the deal valued at $22.44 per share,101,924 shares were sold. As a result of this transaction, Patel Nir Vinay now holds 1,004,695 shares worth roughly $ 18.51 million.

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Then, Patel Nir Vinay sold 20,149 shares, generating $468,807 in total proceeds. Upon selling the shares at $23.27, the Chief Operating Officer now owns 1,106,619 shares.

Before that, Saadeh-Jajeh Diana sold 10,484 shares. GameStop Corp. shares valued at $243,931 were divested by the Chief Financial Officer at a price of $23.27 per share. As a result of the transaction, Saadeh-Jajeh Diana now holds 93,438 shares, worth roughly $1.72 million.

Wedbush reiterated its GameStop Corp. [GME] rating to an Underperform in a research note published on Friday, June 08, 2023; the price target was $6.20. PT values the company’s stock at a premium of -197.1 to its Friday closing price.

Price Performance Review of GME

On Friday, GameStop Corp. [NYSE:GME] saw its stock fall -0.70% to $18.42. On the same session, the stock had its day’s lowest price of $18.32, but rose to a high of $18.73. Over the last five days, the stock has gained 7.53%. GameStop Corp. shares have fallen nearly -0.22% since the year began. Nevertheless, the stocks have fallen -35.68% over the past one year. While a 52-week high of $34.99 was reached on 06/13/23, a 52-week low of $15.41 was recorded on 01/06/23. SMA at 50 days reached $21.27, while 200 days put it at $21.45. A total of 2.13 million shares were traded, compared to the trading of 4.67 million shares in the previous session.

Levels Of Support And Resistance For GME Stock

The 24-hour chart illustrates a support level at 18.25, which if violated will result in even more drops to 18.08. On the upside, there is a resistance level at 18.66. A further resistance level may holdings at 18.90. The Relative Strength Index (RSI) on the 14-day chart is 41.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.78%. Stochastics %K at 58.75% indicates the stock is a holding.

How much short interest is there in GameStop Corp.?

A steep rise in short interest was recorded in GameStop Corp. stocks on Aug 14, 2023, dropping by -0.46 million shares to a total of 51.2 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 51.66 million shares. There was a decline of -0.9%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 19.12% of the overall stock float, the days-to-cover ratio (short ratio) fell to 22.76.

GameStop Corp. [GME] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 24,572,315 shares, or roughly 8.06% of the outstanding GME shares. In other words, the investor’s shares have fallen by -139,438 from its previous 13-F filing of 24711753.0. Additionally, BlackRock Fund Advisors decreased -2.33% of its stake after which the total value it holdings stand at $444,384,770, while SSgA Funds Management, Inc. reduced -1.52% of its stake to hold $165.41 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 157,131 shares of GameStop Corp., while Charles Schwab Investment Managem bought 21,787 shares. At present, Northern Trust Investments, Inc. is holding 1,785,025 shares valued at $39.63 million. Van Eck Associates Corp. owned 1,182,313 shares of the company at the time of its most recent 13F filing, worth $26.25 million.


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