GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GMEGet Free Report) issued its earnings results on Tuesday. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12, FiscalAI reports. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.47 billion. GameStop had a return on equity of 12.65% and a net margin of 11.53%.

GameStop Price Performance

NYSE:GME opened at $23.07 on Thursday. GameStop has a 52-week low of $19.93 and a 52-week high of $35.81. The stock has a fifty day moving average of $23.63 and a 200 day moving average of $23.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 30.76 and a beta of 2.12.

Key GameStop News

Here are the key news stories impacting GameStop this week:

Insiders Place Their Bets

In related news, Director Alain Attal acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was bought at an average cost of $20.90 per share, with a total value of $250,800.00. Following the acquisition, the director owned 596,464 shares of the company’s stock, valued at approximately $12,466,097.60. The trade was a 2.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 12,200 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $21.00, for a total transaction of $256,200.00. Following the completion of the transaction, the general counsel owned 105,155 shares of the company’s stock, valued at $2,208,255. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 517,000 shares of company stock valued at $10,925,150 and sold 23,152 shares valued at $480,059. Company insiders own 8.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GME. Northwestern Mutual Wealth Management Co. raised its stake in shares of GameStop by 308.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock worth $26,000 after acquiring an additional 732 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after purchasing an additional 886 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of GameStop during the 3rd quarter valued at $39,000. Los Angeles Capital Management LLC purchased a new position in GameStop in the 4th quarter worth $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in GameStop in the 4th quarter worth $54,000. 29.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $13.50.

View Our Latest Analysis on GameStop

About GameStop

(Get Free Report)

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

Further Reading

Earnings History for GameStop (NYSE:GME)

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