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Daniel Moore, the Principal Financial (NASDAQ:PFG) Officer and Principal Accounting Officer of GameStop Corp . (NYSE:GME), recently executed a sale of 1,608 shares of the company’s Class A common stock. The transaction took place on April 2, 2025, at an average price of $22.529 per share, totaling approximately $36,226. The stock, currently trading at $23.46, has shown significant volatility with an 83% gain over the past year, though it’s down nearly 33% year-to-date, according to InvestingPro data. Following this sale, Moore retains ownership of 29,777 shares in the company. According to the filing, the sale was conducted to cover applicable withholding taxes related to the vesting of restricted stock units and does not represent a discretionary trade by Moore. InvestingPro analysis shows GameStop maintains strong financial health with a current ratio of 8.05 and more cash than debt on its balance sheet. Want deeper insights into insider trading patterns and 12 more exclusive ProTips? Check out InvestingPro.
In other recent news, GameStop Corp. announced the pricing of a $1.3 billion convertible notes offering, which is expected to close in April 2025. The notes, due in 2030, are directed at qualified institutional buyers and will not bear interest. GameStop plans to use the proceeds for general corporate purposes, including potential investments in Bitcoin, aligning with its updated investment policy. Wedbush Securities responded by raising its price target for GameStop to $13.50 while maintaining an Outperform rating, reflecting optimism despite the company’s mixed business ventures. However, Wedbush also expressed skepticism about the Bitcoin investment strategy and maintained an Underperform rating in a separate analysis. Baird analysts remained neutral, updating their model to reflect GameStop’s fourth-quarter results and noting the company’s efforts to modernize and focus on collectibles. GameStop’s management is recognized for shifting towards more effective cash and investment management. Despite these developments, some investors remain cautious about the company’s financial strategy and its impact on share dilution.
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