GameStop Executives Dump Massive Amounts Of Shares, Trouble Brewing?

Jager Robinson September 30, 2014 0

Gamestop, known by many in the gaming world as “that place you go to get games,” has recently seen some of its top executives dump most of their shares. Daniel DeMatteo, executive chairman of Gamestop, and Steven Koonin, director of Gamestop, just got rid of their shares for large sums of money.

The breakdown is as follows:

Daniel DeMatteo (Gamestop Executive Chairman) has sold 150,000 shares at $43.6306 each which adds up to $6,544,590.

Steven Koonin (Gamestop director) has sold 1,800 shares at the same price for a total of $78,538.86

Robert Lloyd (CFO) has sold 20,000 shares for a total of $872,684.

Michael Mauler (Gamestop VP of International Affairs) has sold 24,070 shares for a total of $1,050,123.55.

While these four men are a huge part of the company as a whole, this might not be panic time for the gaming industries front man. GameStop’s Investor Relations board has not bad a comment on the recent sales, but it is worth noting that many EA executives did the same thing when EA hit a record high last year.

In the past few weeks GameStop has announced major plans for their usually high holiday season and it doesn’t look like the company will back down from those plans despite this recent movement of shares.

Stay tuned to the story as GameStop is sure to make a comment surrounding this large movement of shares in the next few days.