GameStop (NYSE:GME) Shares Gap Up to $27.00

Shares of GameStop Corp. (NYSE:GME) gapped up prior to trading on Tuesday . The stock had previously closed at $27.00, but opened at $27.75. GameStop shares last traded at $28.14, with a volume of 5,877,132 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GME. Wedbush cut their target price 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. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Wednesday, July 10th.

GameStop Trading Up 2.1 %

The company’s 50 day moving average price is $25.38 and its 200 day moving average price is $17.79. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 346.67 and a beta of -0.10. 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 announced its quarterly earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. During the same quarter last year, the company earned ($0.14) EPS. The business’s revenue for the quarter was down 28.7% compared to the same quarter last year. Research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction on 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 this link. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the sale, 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. Also, Director Lawrence Cheng purchased 4,140 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the transaction, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The disclosure for this purchase can be found here. In the last three months, insiders have sold 24,647 shares of company stock worth $300,183. 12.28% of the stock is owned by insiders.

Hedge Funds Weigh In On GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in shares of GameStop by 38.9% during the 2nd quarter. SG Americas Securities LLC now owns 12,907 shares of the company’s stock worth $319,000 after acquiring an additional 3,614 shares during the period. Simplicity Wealth LLC bought a new position in shares of GameStop during the 2nd quarter worth about $553,000. CWM LLC lifted its holdings in shares of GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after acquiring an additional 1,426 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares during the period. Finally, Cetera Advisors LLC bought a new position in GameStop during the 1st quarter valued at about $806,000. 29.21% of the stock is owned by institutional investors.

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.