GameStop (NYSE:GME) Stock Price Up 2.2%

GameStop Corp. (NYSE:GME) rose 2.2% during trading on Thursday . The stock traded as high as $24.92 and last traded at $24.74. Approximately 4,614,920 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 26,683,631 shares. The stock had previously closed at $24.20.

Wall Street Analyst Weigh In

GME has been the subject of several recent research reports. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday, June 20th. Wedbush decreased their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th.

GameStop Stock Down 1.6 %

The stock has a market cap of $8.67 billion, a P/E ratio of 308.66 and a beta of -0.27. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $22.59 and a 200-day simple moving average of $17.20.

GameStop (NYSE:GME) last announced its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $881.80 million for 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 firm’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) EPS. Analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the sale, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the sale, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The disclosure for this sale can be found here. Insiders sold a total of 29,636 shares of company stock worth $346,474 over the last three months. 12.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GameStop

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in GameStop in the fourth quarter valued at about $55,000. First United Bank & Trust acquired a new position in GameStop in the fourth quarter valued at about $70,000. Fifth Third Bancorp lifted its stake in GameStop by 50.6% in the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after buying an additional 1,445 shares during the period. Russell Investments Group Ltd. lifted its stake in GameStop by 147.2% in 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. Finally, Merit Financial Group LLC acquired a new position in GameStop in the fourth quarter valued at about $176,000. Institutional investors 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.