GameStop (NYSE:GME) Shares Down 0.7%

GameStop Corp. (NYSE:GME) shares dropped 0.7% on Tuesday . The stock traded as low as $24.21 and last traded at $24.29. Approximately 3,978,594 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 26,279,605 shares. The stock had previously closed at $24.45.

Analyst Upgrades and Downgrades

GME has been the subject of several research reports. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Wednesday. Wedbush lowered their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th.

GameStop Price Performance

The stock’s 50-day moving average is $24.72 and its 200 day moving average is $17.61. 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 company has a market cap of $8.98 billion, a PE ratio of 321.79 and a beta of -0.10.

GameStop (NYSE:GME) last posted its earnings results on Friday, June 7th. The company reported ($0.12) 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 firm had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. During the same period in the previous year, the company earned ($0.14) EPS. The company’s revenue was down 28.7% on a year-over-year basis. On average, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at the SEC website. In other GameStop news, Director Lawrence Cheng acquired 4,140 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares in the company, valued at approximately $515,995.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,647 shares of company stock worth $300,183. 12.28% of the stock is owned by corporate insiders.

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after buying an additional 511 shares during the period. Headlands Technologies LLC acquired a new stake in GameStop during the fourth quarter valued at $55,000. Russell Investments Group Ltd. grew its position in GameStop by 147.2% during the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after buying an additional 3,025 shares during the period. CWM LLC grew its position in GameStop by 115.6% during the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after buying an additional 1,426 shares during the period. Finally, First United Bank & Trust acquired a new stake in GameStop during the fourth quarter valued at $70,000. Institutional investors and hedge funds 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.