GameStop (NYSE:GME) Trading Up 2.4%

Shares of GameStop Corp. (NYSE:GME) shot up 2.4% during trading on Friday . The company traded as high as $25.75 and last traded at $25.68. 4,767,777 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 26,750,857 shares. The stock had previously closed at $25.09.

Analysts Set New Price Targets

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

GameStop Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 308.66 and a beta of -0.27. The firm’s fifty day moving average is $22.59 and its 200-day moving average is $17.22.

GameStop (NYSE:GME) last issued its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) EPS. On average, sell-side analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the transaction, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other GameStop news, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the transaction, the insider now owns 13,606 shares of the company’s stock, valued at $138,781.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now directly owns 50,837 shares of the company’s stock, valued at $515,995.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,636 shares of company stock worth $346,474. 12.28% of the stock is currently owned by insiders.

Institutional Trading of GameStop

A number of large investors have recently modified their holdings of GME. Vanguard Group Inc. grew its position in GameStop by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company’s stock worth $416,160,000 after purchasing an additional 345,488 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in GameStop by 12.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after acquiring an additional 289,947 shares during the period. Van ECK Associates Corp raised its stake in GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock valued at $18,519,000 after acquiring an additional 147,655 shares in the last quarter. BNP Paribas Financial Markets boosted its position in GameStop by 527.0% during the 4th quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock worth $2,576,000 after acquiring an additional 123,516 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of GameStop by 659.6% in the first quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after purchasing an additional 121,328 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.