GameStop Corp. (NYSE:GME - Get Free Report) shares traded down 5.3% during trading on Friday . The stock traded as low as $20.43 and last traded at $20.57. 3,277,551 shares traded hands during trading, a decline of 87% from the average session volume of 24,688,053 shares. The stock had previously closed at $21.71.
Analysts Set New Price Targets
Several research analysts have recently weighed in on GME shares. Wedbush decreased their price target 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 shares of GameStop to a "sell" rating in a research note on Tuesday, July 23rd.
View Our Latest Stock Analysis on GameStop
GameStop Stock Performance
The firm has a market capitalization of $7.40 billion, a PE ratio of 263.41 and a beta of -0.09. 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 business's 50 day simple moving average is $25.40 and its two-hundred day simple moving average is $18.58.
GameStop (NYSE:GME - Get Free Report) last released its quarterly 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 firm had revenue of $881.80 million for the quarter, compared to the consensus estimate of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company's revenue for the quarter was down 28.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.
Insider Activity
In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $1,274,582.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business's stock in a transaction that occurred 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 transaction, the general counsel now directly owns 48,408 shares of the company's stock, 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. Also, Director Lawrence Cheng acquired 4,140 shares of the business's stock in a transaction on Monday, July 8th. The shares were bought at an average cost of $24.85 per share, with a total value of $102,879.00. Following the completion of the acquisition, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The disclosure for this purchase can be found here. Insiders have sold a total of 3,397 shares of company stock valued at $84,106 in the last ninety days. Corporate insiders own 12.28% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. AlphaMark Advisors LLC grew its holdings in GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company's stock valued at $33,000 after buying an additional 396 shares in the last quarter. Centerpoint Advisors LLC bought a new stake in shares of GameStop in the 2nd quarter worth about $47,000. GAMMA Investing LLC lifted its stake in shares of GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company's stock worth $51,000 after acquiring an additional 511 shares during the last quarter. Headlands Technologies LLC purchased a new stake in GameStop in the fourth quarter worth $55,000. Finally, Russell Investments Group Ltd. boosted its position in GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company's stock valued at $65,000 after buying an additional 3,025 shares during the period. Hedge funds and other institutional investors own 29.21% of the company's stock.
GameStop Company Profile
(Get Free Report)
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.
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