GameStop (NYSE:GME) Trading Down 0.4%

GameStop Corp. (NYSE:GME) shares fell 0.4% during mid-day trading on Wednesday . The stock traded as low as $20.95 and last traded at $21.20. 1,915,793 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 24,372,260 shares. The stock had previously closed at $21.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Saturday. Wedbush lowered their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th.

GameStop Stock Down 3.0 %

The stock has a 50-day moving average price of $25.38 and a 200-day moving average price of $18.74. The company has a market capitalization of $7.25 billion, a P/E ratio of 265.00 and a beta of -0.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42.

GameStop (NYSE:GME) last issued its quarterly 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 for the quarter, compared to analyst estimates of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business’s revenue was down 28.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, research analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was 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 in the company, valued at $1,274,582.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was 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 owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Cheng purchased 4,140 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,183 shares of company stock worth $81,001. 12.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC grew its position in shares of GameStop by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares in the last quarter. Centerpoint Advisors LLC bought a new stake in shares of GameStop during the 2nd quarter worth $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 in the last quarter. CWM LLC raised 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 purchasing an additional 1,426 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of GameStop in the 4th quarter worth about $55,000. 29.21% of the stock is currently owned by hedge funds and other 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.