GameStop (NYSE:GME) Shares Gap Up to $24.25

GameStop Corp. (NYSE:GME)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $24.25, but opened at $24.77. GameStop shares last traded at $24.37, with a volume of 2,162,433 shares traded.

Analyst Upgrades and Downgrades

GME has been the subject of a number of research reports. Wedbush reduced their price objective on 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 raised shares of GameStop to a “sell” rating in a research report on Monday, August 26th.

GameStop Stock Down 1.9 %

The business has a 50-day moving average price of $23.33 and a 200 day moving average price of $20.09. The stock has a market capitalization of $8.36 billion, a P/E ratio of 303.16 and a beta of -0.17. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last posted 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 the consensus estimate of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business’s quarterly revenue was down 28.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, equities analysts expect that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Transactions at GameStop

In related news, Director Lawrence Cheng purchased 4,140 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the acquisition, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lawrence Cheng acquired 4,140 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the sale, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,183 shares of company stock worth $81,001. 12.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

Several hedge funds and other institutional investors have recently made changes to their positions in GME. AlphaMark Advisors LLC boosted its holdings in GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares during the last quarter. Centerpoint Advisors LLC acquired a new position in GameStop in the second quarter valued at approximately $47,000. GAMMA Investing LLC grew its position in GameStop by 32.9% in the second 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. Russell Investments Group Ltd. increased its stake in GameStop by 147.2% during the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after acquiring an additional 3,025 shares during the last quarter. Finally, CWM LLC raised its position in GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares during the period. 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.