GameStop (NYSE:GME) Shares Down 0.8%

GameStop Corp. (NYSE:GME) fell 0.8% during mid-day trading on Wednesday . The company traded as low as $24.52 and last traded at $24.73. 7,414,718 shares traded hands during trading, a decline of 72% from the average session volume of 26,774,873 shares. The stock had previously closed at $24.93.

Wall Street Analyst Weigh In

Several research firms have recently commented on GME. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Thursday, June 20th. Wedbush reduced their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th.

GameStop Stock Up 3.7 %

The business has a fifty day moving average of $22.30 and a 200 day moving average of $17.14. The company has a market capitalization of $8.81 billion, a PE ratio of 313.66 and a beta of -0.27. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last posted its quarterly 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). The business had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business’s revenue was down 28.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) EPS. Equities research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity

In other news, Director Lawrence Cheng bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the purchase, the director now owns 65,088 shares of the company’s stock, valued at $730,287.36. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other GameStop news, Director Lawrence Cheng purchased 10,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were bought at an average cost 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel William Moore sold 7,779 shares of the company’s 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 transaction, the insider now directly owns 13,606 shares of the company’s stock, valued at $138,781.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,636 shares of company stock worth $346,474. 12.28% of the stock is currently owned by company insiders.

Institutional Trading of GameStop

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after buying an additional 167,145 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of GameStop by 12.5% during 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 increased its position in shares of GameStop by 2.1% during the third quarter. Northern Trust Corp now owns 1,932,666 shares of the company’s stock worth $31,812,000 after purchasing an additional 40,602 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of GameStop by 11.1% in the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock valued at $18,519,000 after purchasing an additional 147,655 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position 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 valued at $12,662,000 after purchasing an additional 25,159 shares during the period. 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.