GameStop (NYSE:GME) Stock Price Down 2.1%

GameStop Corp. (NYSE:GME) was down 2.1% on Wednesday . The stock traded as low as $23.61 and last traded at $24.70. Approximately 38,079,233 shares traded hands during trading, a decline of 58% from the average daily volume of 91,420,272 shares. The stock had previously closed at $25.22.

Analyst Ratings Changes

A number of research firms have issued reports on GME. StockNews.com upgraded GameStop to a “sell” rating in a report on Thursday. Wedbush decreased their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th.

GameStop Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The stock has a market capitalization of $8.95 billion, a P/E ratio of 318.41 and a beta of -0.27. The business has a 50-day moving average price of $20.90 and a 200 day moving average price of $16.84.

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

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares in the company, valued at approximately $515,995.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the sale, the insider now owns 13,606 shares in the company, valued at $138,781.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,636 shares of company stock worth $346,474. 12.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in GameStop by 12.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after purchasing an additional 289,947 shares during the last quarter. Northern Trust Corp raised its stake in GameStop by 2.1% during the 3rd quarter. Northern Trust Corp now owns 1,932,666 shares of the company’s stock valued at $31,812,000 after buying an additional 40,602 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock valued at $18,519,000 after buying an additional 147,655 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of GameStop by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after buying an additional 25,159 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

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.