GameStop (NYSE:GME) Trading Down 7.2%

GameStop Corp. (NYSE:GME)’s share price dropped 7.2% during mid-day trading on Tuesday . The company traded as low as $15.00 and last traded at $15.13. Approximately 1,640,182 shares were traded during trading, a decline of 65% from the average daily volume of 4,713,082 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GME. Wedbush lowered their price objective on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th.

GameStop Stock Up 2.8 %

The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $12.78 and its 200-day simple moving average is $13.99. The company has a market capitalization of $5.13 billion, a PE ratio of 756.88 and a beta of -0.25.

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

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the sale, the general counsel now directly owns 50,837 shares of the company’s stock, valued at $515,995.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now owns 50,837 shares in the company, valued at approximately $515,995.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the transaction, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,207 shares of company stock worth $285,048. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in shares of GameStop by 175.6% during the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock worth $47,000 after purchasing an additional 1,819 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of GameStop in the fourth quarter valued at about $55,000. First United Bank & Trust acquired a new stake in shares of GameStop in the fourth quarter valued at about $70,000. Cornerstone Investment Partners LLC acquired a new position in GameStop during the first quarter worth about $153,000. Finally, Merit Financial Group LLC acquired a new position in GameStop during the fourth quarter worth about $176,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.