GameStop (NYSE:GME) Trading Down 2.4%

GameStop Corp. (NYSE:GME) shares traded down 2.4% during mid-day trading on Friday . The company traded as low as $24.73 and last traded at $24.98. 6,419,958 shares were traded during mid-day trading, a decline of 76% from the average session volume of 26,791,564 shares. The stock had previously closed at $25.59.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday. Wedbush decreased their price target 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.

GameStop Stock Performance

The firm has a market capitalization of $8.40 billion, a P/E ratio of 299.16 and a beta of -0.27. The company has a 50-day moving average of $21.17 and a 200-day moving average of $16.90. 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 data on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $881.80 million for 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 company’s quarterly revenue was down 28.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. On average, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Lawrence Cheng bought 10,000 shares of GameStop 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 purchase, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. Insiders have sold a total of 29,636 shares of company stock worth $346,474 in the last 90 days. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 purchasing an additional 167,145 shares during the period. 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 valued at $45,693,000 after buying 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 acquiring an additional 40,602 shares in the last quarter. Van ECK Associates Corp raised 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 worth $18,519,000 after acquiring an additional 147,655 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 acquiring an additional 25,159 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.