GameStop (NYSE:GME) Shares Gap Up to $24.25

GameStop Corp. (NYSE:GME) shares gapped up before the market opened on Tuesday . The stock had previously closed at $24.25, but opened at $24.77. GameStop shares last traded at $24.37, with a volume of 2,162,433 shares.

Analyst Ratings Changes

GME has been the topic of several analyst reports. Wedbush lowered their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Monday, August 26th.

GameStop Trading Down 1.9 %

The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 303.16 and a beta of -0.17. The business has a 50 day simple moving average of $23.33 and a 200-day simple moving average of $20.09.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (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 company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. During the same period in the prior year, the business posted ($0.14) earnings per share. GameStop’s revenue was down 28.7% on a year-over-year basis. On average, equities analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GameStop news, Director Lawrence Cheng bought 4,140 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average cost of $24.85 per share, with a total value of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 have sold a total of 3,183 shares of company stock worth $81,001 in the last quarter. 12.28% of the stock is owned by insiders.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaMark Advisors LLC raised its holdings in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC raised its stake in GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of GameStop by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock valued at $2,082,000 after purchasing an additional 1,160 shares in the last quarter. Swiss National Bank raised its position in GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after buying an additional 1,400 shares during the period. Finally, CWM LLC lifted its stake in GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after acquiring an additional 1,426 shares in the last quarter. 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.