GameStop (NYSE:GME) Stock Price Down 0.8%

GameStop Corp. (NYSE:GME)’s stock price was down 0.8% during mid-day trading on Wednesday . The company traded as low as $24.52 and last traded at $24.73. Approximately 7,414,718 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 26,774,873 shares. The stock had previously closed at $24.93.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GME. Wedbush lowered their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock 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 Performance

The company’s fifty day moving average is $21.73 and its 200 day moving average is $17.03. 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 company has a market capitalization of $8.59 billion, a P/E ratio of 304.66 and a beta of -0.27.

GameStop (NYSE:GME) last posted its quarterly earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $995.30 million. During the same period in the previous year, the business earned ($0.14) earnings per share. GameStop’s revenue was down 28.7% on a year-over-year basis. As a group, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction 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 sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Daniel William Moore sold 7,779 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the transaction, the insider now owns 13,606 shares of the company’s stock, valued at approximately $138,781.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value 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 disclosure for this sale can be found here. Insiders sold 29,636 shares of company stock valued at $346,474 in the last quarter. 12.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently bought and sold shares of GME. Headlands Technologies LLC bought a new stake in shares of GameStop in the fourth quarter worth about $55,000. First United Bank & Trust purchased a new position in shares of GameStop during the fourth quarter valued at about $70,000. Fifth Third Bancorp raised its stake in GameStop by 50.6% in the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after buying an additional 1,445 shares in the last quarter. Russell Investments Group Ltd. boosted its position in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after acquiring an additional 3,025 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of GameStop during the 4th quarter worth approximately $176,000. 29.21% of the stock is currently owned by institutional investors.

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.