GameStop (NYSE:GME) Trading Up 0.3%

GameStop Corp. (NYSE:GME)’s share price was up 0.3% on Tuesday . The company traded as high as $23.70 and last traded at $23.41. Approximately 3,982,076 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 26,723,980 shares. The stock had previously closed at $23.33.

Analyst Ratings Changes

A number of research analysts have weighed in on GME shares. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Thursday, June 20th. 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.

GameStop Stock Performance

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 firm’s 50-day moving average is $23.40 and its two-hundred day moving average is $17.36. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 304.91 and a beta of -0.10.

GameStop (NYSE:GME) last released its quarterly earnings results 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). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. During the same quarter last year, the company earned ($0.14) EPS. The firm’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 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the transaction, the general counsel now owns 48,408 shares in the company, valued at approximately $1,274,582.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the sale, the insider now owns 13,606 shares of the company’s stock, valued at approximately $138,781.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The disclosure for this sale can be found here. Insiders sold a total of 25,173 shares of company stock worth $306,100 in the last 90 days. Insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several large investors have recently bought and sold shares of GME. Invesco Ltd. grew its stake in shares of GameStop by 1.4% in the 3rd quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock valued at $7,283,000 after buying an additional 6,311 shares during the period. Federated Hermes Inc. grew its stake in shares of GameStop by 3.8% in the 3rd quarter. Federated Hermes Inc. now owns 36,902 shares of the company’s stock valued at $607,000 after buying an additional 1,363 shares during the period. Northern Trust Corp grew its stake in shares of GameStop by 2.1% in the 3rd quarter. Northern Trust Corp now owns 1,932,666 shares of the company’s stock valued at $31,812,000 after buying an additional 40,602 shares during the period. Revisor Wealth Management LLC purchased a new stake in shares of GameStop in the 3rd quarter valued at approximately $213,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of GameStop by 93.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 86,428 shares of the company’s stock valued at $1,422,000 after buying an additional 41,780 shares during the period. Hedge funds and other institutional investors 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.