GameStop (NYSE:GME) Stock Price Down 9%

GameStop Corp. (NYSE:GME)’s share price was down 9% on Monday . The company traded as low as $22.31 and last traded at $22.47. Approximately 15,102,972 shares were traded during trading, a decline of 44% from the average daily volume of 26,781,229 shares. The stock had previously closed at $24.69.

Analyst Upgrades and Downgrades

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

GameStop Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The firm has a market capitalization of $8.43 billion, a P/E ratio of 299.91 and a beta of -0.10. The company’s 50-day simple moving average is $23.13 and its two-hundred day simple moving average is $17.31.

GameStop (NYSE:GME) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The firm’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) earnings per share. As a group, research analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction dated 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 transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction dated 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 transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The transaction 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 company’s stock in a transaction that occurred 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. Over the last ninety days, insiders sold 24,205 shares of company stock valued at $283,420. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Large investors have recently modified their holdings of the business. Invesco Ltd. raised its stake in shares of GameStop by 1.4% during the 3rd quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock worth $7,283,000 after acquiring an additional 6,311 shares in the last quarter. Federated Hermes Inc. grew its position in GameStop by 3.8% during the 3rd quarter. Federated Hermes Inc. now owns 36,902 shares of the company’s stock worth $607,000 after purchasing an additional 1,363 shares during the last quarter. Northern Trust Corp grew its position in GameStop by 2.1% during the 3rd quarter. Northern Trust Corp now owns 1,932,666 shares of the company’s stock worth $31,812,000 after purchasing an additional 40,602 shares during the last quarter. Revisor Wealth Management LLC purchased a new stake in GameStop during the 3rd quarter worth approximately $213,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in GameStop by 93.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 86,428 shares of the company’s stock worth $1,422,000 after purchasing an additional 41,780 shares during the last quarter. 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.