GameStop (NYSE:GME) Stock Price Up 1.5%

GameStop Corp. (NYSE:GME) shares rose 1.5% on Wednesday . The company traded as high as $29.79 and last traded at $28.98. Approximately 9,625,741 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 25,925,346 shares. The stock had previously closed at $28.54.

Wall Street Analysts Forecast Growth

GME has been the topic of a number of research analyst reports. Wedbush dropped their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Wednesday, July 10th.

GameStop Trading Up 1.7 %

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 stock has a market capitalization of $10.20 billion, a PE ratio of 362.30 and a beta of -0.10. The stock’s 50 day simple moving average is $25.63 and its two-hundred day simple moving average is $17.87.

GameStop (NYSE:GME) last posted its quarterly earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $881.80 million during 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 business’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same period last year, the firm earned ($0.14) EPS. On average, sell-side analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lawrence Cheng purchased 4,140 shares of GameStop stock in a transaction dated Monday, July 8th. The stock was bought at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the transaction, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, the insider now directly owns 13,606 shares in the company, valued at approximately $138,781.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence Cheng acquired 4,140 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Insiders have sold a total of 24,647 shares of company stock worth $300,183 over the last 90 days. Corporate insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares during the last quarter. CWM LLC increased its stake in GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after acquiring an additional 1,426 shares during the last quarter. Headlands Technologies LLC bought a new position in GameStop in the 4th quarter worth about $55,000. First United Bank & Trust bought a new position in GameStop in the 4th quarter worth about $70,000. Finally, Fifth Third Bancorp increased its stake in 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. 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.