GameStop (NYSE:GME) Shares Down 1.4%

GameStop Corp. (NYSE:GME)’s share price dropped 1.4% during trading on Tuesday . The company traded as low as $23.19 and last traded at $23.27. Approximately 2,332,837 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 25,008,791 shares. The stock had previously closed at $23.60.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wedbush decreased their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Tuesday, July 23rd.

GameStop Stock Down 2.9 %

The firm’s 50-day simple moving average is $25.26 and its 200 day simple moving average is $18.43. 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 stock has a market capitalization of $8.05 billion, a P/E ratio of 290.91 and a beta of -0.10.

GameStop (NYSE:GME) last issued 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 company had revenue of $881.80 million for 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%. The business’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same period last year, the company posted ($0.14) earnings per share. As a group, research analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the purchase, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total transaction of $58,320.95. Following the transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,397 shares of company stock valued at $84,106. 12.28% of the stock is owned by corporate insiders.

Institutional Trading of GameStop

Hedge funds have recently modified their holdings of the stock. AlphaMark Advisors LLC raised its holdings in GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC increased its stake in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC bought a new position in shares of GameStop during the fourth quarter worth approximately $55,000. Russell Investments Group Ltd. lifted its holdings in GameStop by 147.2% during the 1st 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 last quarter. Finally, CWM LLC boosted its stake in GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

About GameStop

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.