GameStop (NYSE:GME) Sees Large Volume Increase

Shares of GameStop Corp. (NYSE:GME) saw unusually-high trading volume on Tuesday . Approximately 1,960,792 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 3,114,745 shares.The stock last traded at $15.02 and had previously closed at $15.12.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GME. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush reduced their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday.

GameStop Trading Down 15.1 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.94 and a current ratio of 1.65. The firm has a market cap of $4.02 billion, a P/E ratio of 658.58 and a beta of -0.42. The business’s fifty day moving average is $14.30 and its 200-day moving average is $14.91.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. GameStop had a return on equity of 1.37% and a net margin of 0.13%. GameStop’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Analysts predict that GameStop Corp. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On GameStop

Several institutional investors and hedge funds have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. bought a new stake in GameStop during the second quarter valued at $36,000. Covestor Ltd increased its holdings in GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares in the last quarter. IFP Advisors Inc lifted its stake in GameStop by 99.7% in the third quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock valued at $45,000 after buying an additional 1,352 shares during the period. Fifth Third Bancorp boosted its holdings in shares of GameStop by 175.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock worth $47,000 after buying an additional 1,819 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of GameStop during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds 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.