GameStop (NYSE:GME) Trading Down 3%


Share on StockTwits

GameStop Corp. (NYSE:GME) fell 3% during mid-day trading on Thursday . The stock traded as low as $157.16 and last traded at $161.60. 33,661 shares were traded during trading, a decline of 100% from the average session volume of 40,974,738 shares. The stock had previously closed at $166.53.

Several research firms have issued reports on GME. Credit Suisse Group restated a “sell” rating on shares of GameStop in a report on Thursday, April 1st. Wedbush restated an “underperform” rating and set a $29.00 price objective on shares of GameStop in a report on Tuesday, March 30th. Telsey Advisory Group cut their price objective on GameStop from $33.00 to $30.00 and set an “underperform” rating on the stock in a report on Tuesday, March 30th. Standpoint Research downgraded GameStop from a “buy” rating to a “hold” rating in a report on Wednesday, January 13th. Finally, Ascendiant Capital Markets downgraded GameStop from a “hold” rating to a “sell” rating in a report on Monday, April 12th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $37.06.

The company has a market cap of $10.82 billion, a price-to-earnings ratio of -36.40 and a beta of 1.40. The company has a current ratio of 1.05, a quick ratio of 0.50 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average price of $177.55 and a two-hundred day moving average price of $70.98.

GameStop (NYSE:GME) last announced its quarterly earnings results on Monday, March 22nd. The company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.01). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.23 billion. GameStop had a negative net margin of 5.32% and a negative return on equity of 33.58%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. On average, analysts anticipate that GameStop Corp. will post -2.07 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in GME. Guggenheim Capital LLC bought a new stake in shares of GameStop in the 3rd quarter valued at approximately $164,000. Morgan Stanley grew its stake in shares of GameStop by 913.2% in the 3rd quarter. Morgan Stanley now owns 1,995,842 shares of the company’s stock valued at $20,358,000 after buying an additional 1,798,857 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of GameStop by 144.8% in the 3rd quarter. Squarepoint Ops LLC now owns 75,222 shares of the company’s stock valued at $767,000 after buying an additional 44,489 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of GameStop by 226.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 276,001 shares of the company’s stock valued at $2,815,000 after buying an additional 191,498 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of GameStop by 88.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 39,800 shares of the company’s stock valued at $406,000 after buying an additional 18,700 shares in the last quarter.

About GameStop (NYSE:GME)

GameStop Corp. operates as a multichannel video game, consumer electronics, and collectibles retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game platforms; accessories, including controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned video game software; and in-game digital currency, digital downloadable content, and full-game downloads, as well as network points cards, and prepaid digital and prepaid subscription cards.

Read More: Cryptocurrencies

Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.