GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GME) posted its earnings results on Tuesday. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09, Zacks reports. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. The company’s revenue was down 20.2% on a year-over-year basis.

GameStop Price Performance

Shares of GME traded down $1.00 on Tuesday, reaching $26.93. The company’s stock had a trading volume of 11,467,425 shares, compared to its average volume of 19,096,080. The stock’s 50 day simple moving average is $24.42 and its two-hundred day simple moving average is $23.99. The stock has a market capitalization of $11.49 billion, a P/E ratio of 207.17 and a beta of -0.11. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush restated an “underperform” rating and issued a $10.00 target price on shares of GameStop in a report on Friday.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the transaction, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $20.82, for a total value of $229,020.00. Following the completion of the transaction, the general counsel now directly owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock worth $481,000 in the last three months. Corporate insiders own 12.28% of the company’s stock.

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.