GameStop (NYSE:GME) Stock Price Down 6.1% – Here’s What Happened

GameStop Corp. (NYSE:GME)’s share price dropped 6.1% during trading on Friday . The stock traded as low as $30.73 and last traded at $30.98. Approximately 4,331,796 shares changed hands during trading, a decline of 77% from the average daily volume of 18,790,514 shares. The stock had previously closed at $32.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GME shares. Wedbush reaffirmed an “underperform” rating and set a $10.00 price target on shares of GameStop in a report on Friday, December 6th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Performance

The business’s 50 day moving average price is $26.87 and its two-hundred day moving average price is $24.34. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 178.90 and a beta of -0.11.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, sell-side analysts expect that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now directly owns 43,927 shares of the company’s stock, valued at $914,560.14. This trade represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,639 shares of company stock worth $481,000. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its holdings in shares of GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after buying an additional 959 shares during the last quarter. CWM LLC lifted its stake in GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after acquiring an additional 529 shares during the last quarter. Quest Partners LLC grew its position in GameStop by 7,156.5% in the second quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock worth $152,000 after acquiring an additional 6,083 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of GameStop during the 3rd quarter worth $171,000. Finally, Sterling Investment Advisors Ltd. bought a new position in shares of GameStop during the 2nd quarter valued at $204,000. Institutional investors and hedge funds 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.