{"id":62655,"date":"2023-09-18T18:13:51","date_gmt":"2023-09-18T22:13:51","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gamestop-insiders-bought-up-stock\/"},"modified":"2023-09-18T18:13:54","modified_gmt":"2023-09-18T22:13:54","slug":"gamestop-insiders-bought-up-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=62655","title":{"rendered":"GameStop Insiders Bought Up Stock"},"content":{"rendered":"
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Insiders at retailers whose shares have been slumping this year have bought up stock.<\/p>\n

Shares of
\n GameStop
\n (ticker: GME),
\n Foot Locker
\n (FL),
\n Five Below
\n (FIVE), and
\n Dick\u2019s Sporting Goods
\n (DKS) are down 1.3%, 52%, 10%, and 6.1%, respectively, so far this year. That stands in contrast to a stock market that is generally up: The
\n S&P 500 index
\n has gained 16%.<\/p>\n

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Alan Attal and Larry Cheng, two directors of videogame retailer GameStop, bought the company\u2019s stock on the open market.<\/p>\n

On Sept. 8, Attal paid $266,700 for 15,000 GameStop shares, an average price of $17.78 each. He now owns 562,464 GameStop shares, according to a form he filed with the Securities and Exchange Commission.<\/p>\n

On Sept. 8 and 11, Cheng paid $105,900 for 6,000 GameStop shares, an average price of $17.65 each. He purchased the stock through a limited-liability company that now owns 55,088 shares.<\/p>\n

Cheng, co-founder and managing partner of investment firm Volition Capital, declined to comment. He last bought GameStop stock in June, paying $111,900 for 5,000 shares. <\/p>\n

GameStop didn\u2019t respond to a request to make Attal available. Attal, a former\u00a0
\n Chewy
\n (CHWY) executive and an entrepreneur, also last purchased GameStop stock in June, when he paid $224,000 for 10,000 shares.<\/p>\n

GameStop stock still hasn\u2019t recovered from an early June tumble when the company terminated CEO Matt Furlong, and zapped a planned earnings call.<\/p>\n

Foot Locker stock has been walloped this year by lowered outlooks, and the suspension of its dividend.<\/p>\n

On Sept. 8, Foot Locker CEO Mary Dillon paid $100,100 for 5,510 shares, an average price of $18.17 each. She purchased the shares through a trust that now owns 27,649 Foot Locker shares. Dillon owns another 115,388 shares through a personal account.<\/p>\n

Foot Locker didn\u2019t respond to a request to make Dillon available for comment. She last purchased Foot Locker shares on the open market in May, when Dillon\u2019s trust paid $250,000 for 9,525 shares, an average price of $26.20 each.<\/p>\n

Another top executive stepped up in response to a slumping stock. <\/p>\n

On Sept. 8, Five Below President and CEO Joel Anderson\u00a0paid $500,650 for 3,100 shares, an average price of $161.50. Shares dove at the end of August after the retailer reported a disappointing quarter, and lowered guidance.<\/p>\n

Five Below didn\u2019t respond to a request to make Anderson available for comment. Anderson last purchased Five Below stock on the open market in December 2015 when he paid $151,100 for 5,000 shares, an average price of $30.22 each.<\/p>\n

Dick\u2019s missed quarterly earnings estimates for the first time in years in August, sending the stock plunging. On Sept. 7, Vice Chairman William J. Colombo paid $242,000 for 2,200 Dick\u2019s shares, an average price of $110 each. He purchased shares through a trust that now owns 170,192 shares. Colombo owns another 2,000 shares through a personal account.<\/p>\n

Dick\u2019s didn\u2019t respond to a request to make Colombo available for comment. He last bought Dick\u2019s stock on the open market in May 2022 when he paid $405,000 for 5,000 shares, an average price of $80.99.<\/p>\n

Inside Scoop is a regular Barron\u2019s feature covering stock transactions by corporate executives and board members\u2014so-called insiders\u2014as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.<\/em><\/p>\n

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin<\/a>.<\/p>\n<\/p><\/div>\n<\/div>\n