GameStop (NYSE:GME) Trading 0.8% Higher

GameStop Corp. (NYSE:GME)’s stock price traded up 0.8% on Monday . The stock traded as high as $24.41 and last traded at $24.11. 7,449,556 shares were traded during mid-day trading, a decline of 72% from the average session volume of 26,810,248 shares. The stock had previously closed at $23.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wedbush cut their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Thursday, June 20th.

GameStop Stock Down 2.9 %

The business’s 50 day moving average is $21.73 and its 200-day moving average is $17.03. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 304.66 and a beta of -0.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

GameStop (NYSE:GME) last released its quarterly earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. During the same period in the prior year, the business posted ($0.14) EPS. GameStop’s revenue was down 28.7% compared to the same quarter last year. On average, sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In other news, Director Lawrence Cheng acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were bought at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Lawrence Cheng acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were bought at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of 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 29,636 shares of company stock worth $346,474. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of GameStop during the 4th quarter worth approximately $55,000. Russell Investments Group Ltd. lifted its holdings in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after buying an additional 3,025 shares in the last quarter. First United Bank & Trust acquired a new stake in GameStop during the 4th quarter worth approximately $70,000. Fifth Third Bancorp lifted its holdings in GameStop by 50.6% during the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after buying an additional 1,445 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in GameStop during the 1st quarter worth approximately $153,000. Hedge funds and other institutional investors own 29.21% 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.