GameStop (NYSE:GME) Trading 0.8% Higher

GameStop Corp. (NYSE:GME)’s stock price was up 0.8% during mid-day trading on Monday . The company traded as high as $24.41 and last traded at $24.11. Approximately 7,449,556 shares were traded during trading, a decline of 72% from the average daily volume of 26,810,248 shares. The stock had previously closed at $23.93.

Wall Street Analyst Weigh In

GME has been the subject of a number of research analyst reports. StockNews.com raised GameStop to a “sell” rating in a report on Thursday, June 20th. Wedbush reduced their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th.

GameStop Trading Down 2.9 %

The firm has a market cap of $8.50 billion, a P/E ratio of 304.66 and a beta of -0.27. The stock has a fifty day simple moving average of $21.73 and a 200 day simple moving average of $17.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

GameStop (NYSE:GME) last issued its quarterly earnings data 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 firm had revenue of $881.80 million during the quarter, compared to the consensus estimate of $995.30 million. During the same period in the previous year, the firm earned ($0.14) EPS. The business’s revenue was down 28.7% on a year-over-year basis. On average, research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the sale, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lawrence Cheng bought 10,000 shares of the stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders sold 29,636 shares of company stock valued at $346,474 over the last 90 days. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Large investors have recently made changes to their positions in the business. Coatue Management LLC purchased a new position in shares of GameStop in the fourth quarter valued at about $1,315,000. Invesco Ltd. lifted its position in shares of GameStop by 1.4% in the third quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock worth $7,283,000 after buying an additional 6,311 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of GameStop in the fourth quarter worth about $184,000. BNP Paribas Financial Markets lifted its position in shares of GameStop by 527.0% in the fourth quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock worth $2,576,000 after buying an additional 123,516 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of GameStop in the fourth quarter worth about $859,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

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.