GameStop (NYSE:GME) Trading Up 2.6%

GameStop Corp. (NYSE:GME) shares were up 2.6% during mid-day trading on Tuesday . The stock traded as high as $10.38 and last traded at $10.32. Approximately 1,179,582 shares were traded during trading, a decline of 69% from the average daily volume of 3,816,962 shares. The stock had previously closed at $10.06.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GME shares. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush decreased their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Stock Performance

The stock has a fifty day simple moving average of $13.36 and a two-hundred day simple moving average of $14.27. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 515.76 and a beta of -0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. Analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence Cheng purchased 10,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was purchased at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,957 shares of company stock valued at $68,971. 12.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GME. Vanguard Group Inc. raised its position in GameStop by 304.8% during the 3rd quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock worth $607,235,000 after purchasing an additional 18,193,982 shares during the last quarter. State Street Corp raised its position in shares of GameStop by 307.5% in the 3rd quarter. State Street Corp now owns 6,928,945 shares of the company’s stock worth $174,124,000 after acquiring an additional 5,228,654 shares in the last quarter. Norges Bank bought a new position in shares of GameStop in the 4th quarter worth about $19,508,000. Point72 Asset Management L.P. bought a new position in shares of GameStop in the 4th quarter worth about $11,181,000. Finally, Renaissance Technologies LLC raised its position in shares of GameStop by 11,704.3% in the 1st quarter. Renaissance Technologies LLC now owns 306,912 shares of the company’s stock worth $51,125,000 after acquiring an additional 304,312 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

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.