GameStop (NYSE:GME) Trading 2.4% Higher

GameStop Corp. (NYSE:GME)’s stock price shot up 2.4% during mid-day trading on Friday . The stock traded as high as $25.75 and last traded at $25.68. 4,767,777 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 26,750,857 shares. The stock had previously closed at $25.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GME shares. Wedbush decreased their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, June 12th. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday, June 20th.

GameStop Stock Down 1.6 %

The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 308.66 and a beta of -0.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The business’s 50-day moving average is $22.59 and its 200-day moving average is $17.22.

GameStop (NYSE:GME) last posted 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). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The firm had revenue of $881.80 million during the quarter, compared to the consensus estimate of $995.30 million. During the same quarter last year, the firm posted ($0.14) EPS. The business’s revenue was down 28.7% on a year-over-year basis. On average, equities analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now owns 64,308 shares of the company’s stock, valued at $746,615.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence Cheng acquired 10,000 shares of GameStop stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 29,636 shares of company stock worth $346,474. Insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC bought a new stake in shares of GameStop during the first quarter worth approximately $806,000. Tidal Investments LLC grew its holdings in GameStop by 659.6% during the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after acquiring an additional 121,328 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of GameStop by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 180,643 shares of the company’s stock valued at $2,262,000 after acquiring an additional 6,072 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of GameStop in the 1st quarter valued at $154,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of GameStop by 2.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock worth $2,438,000 after purchasing an additional 5,411 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.