GameStop (NYSE:GME) Trading 0.5% Higher

GameStop Corp. (NYSE:GME) traded up 0.5% during mid-day trading on Friday . The stock traded as high as $25.08 and last traded at $24.49. 4,785,215 shares changed hands during trading, a decline of 82% from the average session volume of 26,512,170 shares. The stock had previously closed at $24.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wedbush decreased their price objective on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th. StockNews.com raised GameStop to a “sell” rating in a research report on Thursday, June 20th.

GameStop Stock Up 1.2 %

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 firm has a fifty day simple moving average of $23.66 and a 200-day simple moving average of $17.41. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 306.16 and a beta of -0.10.

GameStop (NYSE:GME) last announced its earnings results 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 return on equity of 1.78% and a net margin of 0.51%. The firm had revenue of $881.80 million for the quarter, compared to the consensus estimate of $995.30 million. During the same quarter last year, the business posted ($0.14) EPS. GameStop’s revenue for the quarter was down 28.7% on a year-over-year basis. As a group, sell-side analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity

In other GameStop news, Director Lawrence Cheng purchased 10,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was 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 in the company, valued at $730,287.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the transaction, the general counsel now owns 50,837 shares of the company’s stock, valued at approximately $515,995.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Cheng bought 10,000 shares of the stock in a transaction on Monday, April 8th. The shares were acquired at an average cost of $11.22 per share, with a total value of $112,200.00. Following the purchase, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 25,173 shares of company stock valued at $306,100. 12.28% of the stock is owned by company insiders.

Institutional Trading of GameStop

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in GameStop by 0.7% in the fourth 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 period. Charles Schwab Investment Management Inc. grew its stake in 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 period. Northern Trust Corp increased its holdings in GameStop by 2.1% in 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 stake in GameStop by 11.1% in the first 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. grew its holdings in GameStop by 2.6% in the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after purchasing an additional 25,159 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

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.