GameStop (NYSE:GME) Shares Gap Down to $24.69

GameStop Corp. (NYSE:GME)’s share price gapped down prior to trading on Monday . The stock had previously closed at $24.69, but opened at $23.35. GameStop shares last traded at $23.28, with a volume of 7,339,767 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GME shares. Wedbush lowered their price objective 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 GameStop to a “sell” rating in a research report on Thursday, June 20th.

GameStop Stock Down 8.5 %

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 firm’s 50-day moving average price is $22.59 and its 200 day moving average price is $17.22. The firm has a market cap of $7.94 billion, a P/E ratio of 280.91 and a beta of -0.10.

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). The firm had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. GameStop’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. As a group, research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s 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 transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $746,615.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence Cheng purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, 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. Insiders have sold 29,636 shares of company stock valued at $346,474 in the last quarter. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Several hedge funds and other institutional investors have recently bought and sold shares of GME. Headlands Technologies LLC bought a new stake in GameStop during the fourth quarter worth approximately $55,000. First United Bank & Trust bought a new stake in shares of GameStop during the 4th quarter worth $70,000. Fifth Third Bancorp grew its holdings in shares of GameStop by 50.6% in the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock worth $75,000 after acquiring an additional 1,445 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of 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 purchasing an additional 3,025 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of GameStop in the 4th quarter valued at $176,000. 29.21% of the stock is currently 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.