GameStop (NYSE:GME) Shares Down 6% – Should You Sell?

Shares of GameStop Corp. (NYSE:GME) fell 6% on Tuesday . The stock traded as low as $28.78 and last traded at $29.17. 5,899,624 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 8,245,287 shares. The stock had previously closed at $31.02.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GME shares. Wedbush restated an “underperform” rating and issued a $10.00 target price on shares of GameStop in a report on Friday, December 6th. StockNews.com raised shares of GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Trading Down 0.9 %

The business has a fifty day moving average of $29.41 and a 200-day moving average of $24.91. The company has a market cap of $12.38 billion, a PE ratio of 153.98 and a beta of -0.02.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $860.30 million for the quarter, compared to analysts’ expectations of $887.68 million. GameStop’s revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

A number of hedge funds have recently modified their holdings of the business. UMB Bank n.a. lifted its position in GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after acquiring an additional 959 shares during the period. CWM LLC increased its stake in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of GameStop by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after purchasing an additional 1,414 shares during the last quarter. Joule Financial LLC bought a new stake in shares of GameStop in the 4th quarter worth approximately $229,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of GameStop in the 3rd quarter worth approximately $171,000. 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.