Gamestop Insiders Sell $20 Million, in Contrast With Individual Investors
Mike Stein - Senior Research Associate
[Click here to read this article on EZ-Insider]
Shares of the video game retailer GameStop Corp. (GME) have been recovering from their all-time low in April, and recently shares of GME have surged to a five-year high of $43.06 on Jan. 14. As reported by the Wall Street Journal, the catalyst for the recent surge is heavy interest by individual investors following GME's addition of Chewy Inc. (CHWY) Co-Founder Ryan Cohen to their board. GME's stock, which is the second-most-shorted when compared to the stock's free float, has also been further pushed upwards by short sellers buying back the stock to cover their bets.
Between Jan. 12 and Jan. 14, four insiders disposed of a total of 899,619 shares for an aggregate of $20 million. Their combined disposition is the largest monthly selling total at the company since September 2013. Shares of GME rose to a new high at the time of publication.
| Insider | Relation | Shares Sold | Value Sold | % Holdings Change |
| Kathy P. Vrabeck | Chairman | 50,000 | $1.4 Million | 38.6% |
| Kurt James Wolf | Director | 810,000 | $17.2 Million | 63.8% |
| Raul J. Fernandez | Director | 34,619 | $1.2 Million | 51.4% |
| Lizabeth Dunn | Director | 5,000 | $157K | 8% |
None of the insiders selling have an extensive or impressive history of selling before decreases in price, but their collective disposition is worth noting. The significant interest in GME among retail investors stands in contrast with recent insider activity at the company, as insiders have begun to take profits. Investors may want to keep a close eye on GME going forward, given the significant swing towards insider selling at the company.
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