GameStop (NYSE:GME) Trading Up 1.4%

Shares of GameStop Corp. (NYSE:GME) were up 1.4% during mid-day trading on Thursday . The company traded as high as $25.10 and last traded at $25.04. Approximately 10,519,140 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 26,748,020 shares. The stock had previously closed at $24.70.

Analyst Ratings Changes

Several equities analysts recently commented on GME shares. Wedbush reduced their price target on 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 Stock Down 6.3 %

The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $21.17 and a two-hundred day moving average price of $16.89. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 299.85 and a beta of -0.27.

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

Insider Buying and Selling

In related news, insider Daniel William Moore sold 7,779 shares of the company’s 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 directly owns 13,606 shares of the company’s stock, valued at $138,781.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Daniel William Moore sold 7,779 shares of GameStop stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction that occurred 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 owns 64,308 shares in the company, valued at approximately $746,615.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,636 shares of company stock worth $346,474. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in GameStop by 1.7% during the third quarter. Rhumbline Advisers now owns 806,083 shares of the company’s stock valued at $13,268,000 after purchasing an additional 13,248 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of GameStop in the 3rd quarter valued at about $872,000. Rafferty Asset Management LLC grew its position in shares of GameStop by 3.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 25,543 shares of the company’s stock valued at $420,000 after buying an additional 957 shares during the last quarter. Invesco Ltd. raised its stake in GameStop by 1.4% during the third quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock worth $7,283,000 after acquiring an additional 6,311 shares during the period. Finally, Dark Forest Capital Management LP lifted its holdings in GameStop by 71.1% in the third quarter. Dark Forest Capital Management LP now owns 17,897 shares of the company’s stock worth $295,000 after acquiring an additional 7,435 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

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.