Competitors of GameStop and Company Itself Locker Insiders Bought Up Stock
Sep 19, 2023
Shares of GameStop (GME) and competitors of GameStop, Foot Locker (FL), Five Below (FIVE), and Dick’s Sporting Goods (DKS) are down 1.3%, 52%, 10%, and 6.1% so far this year, respectively. This contrasts with a usually rising stock market: The S&P 500 index is up 16%.
Alan Attal and Larry Cheng, two GameStop directors, purchased the company’s shares on the open market.
On September 8, Attal paid $266,700 for 15,000 GameStop shares, averaging $17.78 per share. According to a filing he filed with the Securities and Exchange Commission, he currently owns 562,464 GameStop shares.
Shares of GameStop (GME) and competitors of GameStop Foot Locker (FL), Five Below (FIVE), and Dick’s Sporting Goods (DKS) are down 1.3%, 52%, 10%, and 6.1% so far this year, respectively. This contrasts with a usually rising stock market: The S&P 500 index is up 16%.
Alan Attal and Larry Cheng, two GameStop directors, purchased the company’s shares on the open market.
On September 8, Attal paid $266,700 for 15,000 GameStop shares, averaging $17.78 per share. According to a filing he filed with the Securities and Exchange Commission, he currently owns 562,464 GameStop shares.
GameStop stock has yet to recover from an early June drop after the firm fired CEO Matt Furlong and cancelled an earnings teleconference.
Foot Locker stock has suffered this year as a result of decreased expectations and the suspension of its dividend.
Foot Locker CEO Mary Dillon paid $100,100 for 5,510 shares on September 8 at an average price of $18.17 per share. She bought the stock through a trust, which currently holds 27,649 Foot Locker shares. Dillon also has 115,388 shares in his own account.
Foot Locker did not reply to a request for Dillon to comment. She last bought Foot Locker stock on the open market in May, when Dillon’s trust paid $250,000 for 9,525 shares at an average price of $26.20 per share.
In reaction to competitors of GameStop declining shares, another key executive stepped up.
Five Below President and CEO Joel Anderson paid $500,650 for 3,100 shares on September 8 at an average price of $161.50. At the end of August, the retailer announced a dismal quarter and cut its expectations.
Five Below did not reply to a request for comment from Anderson. Anderson last bought Five Below stock on the open market in December 2015 for $151,100 for 5,000 shares at an average price of $30.22 per share.
In August, Dick’s failed quarterly profit projections for the first time in years, sending the stock plummeting. On September 7, Vice Chairman William J. Colombo paid $242,000 for 2,200 Dick’s shares, or $110 a share. He bought them through a trust, which currently holds 170,192 shares. Colombo also has 2,000 shares in a personal account.
Dick’s did not reply to a request for comment from Colombo. He last acquired Dick’s stock on the open market in May 2022, when he paid $405,000 for 5,000 shares, an average price of $80.99.
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