GameStop (NYSE:GME) Shares Gap Down to $25.22

GameStop Corp. (NYSE:GME) shares gapped down before the market opened on Tuesday . The stock had previously closed at $25.22, but opened at $24.58. GameStop shares last traded at $23.85, with a volume of 7,302,401 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GME shares. Wedbush reduced their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Thursday.

GameStop Trading Down 2.1 %

The business’s 50-day moving average price is $20.62 and its 200 day moving average price is $16.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 308.79 and a beta of -0.27.

GameStop (NYSE:GME) last posted its quarterly earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company’s revenue was down 28.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) earnings per share. On average, equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GameStop news, Director Lawrence Cheng bought 10,000 shares of the stock in a transaction on Monday, April 8th. The stock was purchased at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The disclosure for this sale can be found here. Insiders have sold 29,636 shares of company stock valued at $346,474 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of GameStop during the fourth quarter worth about $55,000. First United Bank & Trust bought a new position in shares of GameStop during the fourth quarter worth about $70,000. Fifth Third Bancorp grew its position in GameStop by 50.6% in the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after buying an additional 1,445 shares in the last quarter. Russell Investments Group Ltd. grew its position in GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after buying an additional 3,025 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in GameStop in the 4th quarter valued at about $176,000. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.