GameStop (NYSE:GME) Stock Price Up 0.5%

GameStop Corp. (NYSE:GME) shares rose 0.5% during trading on Friday . The stock traded as high as $25.08 and last traded at $24.49. Approximately 4,785,215 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 26,512,170 shares. The stock had previously closed at $24.37.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GME. Wedbush decreased their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Thursday, June 20th.

GameStop Price Performance

The stock’s fifty day moving average price is $23.66 and its 200-day moving average price is $17.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The firm has a market cap of $8.66 billion, a PE ratio of 306.16 and a beta of -0.10.

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

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Cheng purchased 10,000 shares of GameStop stock in a transaction dated Monday, April 8th. The stock was bought at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 25,173 shares of company stock valued at $306,100. 12.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On GameStop

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. Headlands Technologies LLC purchased a new stake in GameStop during the 4th quarter worth about $55,000. Russell Investments Group Ltd. raised its position in GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares in the last quarter. First United Bank & Trust acquired a new position in shares of GameStop during the fourth quarter worth about $70,000. Finally, Fifth Third Bancorp increased its stake in shares of GameStop by 50.6% during the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after buying an additional 1,445 shares during the period. 29.21% of the stock is 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.