GameStop (NYSE:GME) Shares Gap Down to $23.92

GameStop Corp. (NYSE:GME)’s share price gapped down prior to trading on Monday . The stock had previously closed at $23.92, but opened at $23.24. GameStop shares last traded at $23.38, with a volume of 1,446,658 shares changing hands.

Wall Street Analyst Weigh In

GME has been the topic of a number of research reports. Wedbush cut their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Monday, August 26th.

GameStop Trading Down 3.2 %

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 has a market cap of $8.24 billion, a P/E ratio of 293.35 and a beta of -0.17. The business’s 50 day moving average is $23.32 and its 200-day moving average is $20.16.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. GameStop’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. As a group, analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lawrence Cheng acquired 4,140 shares of GameStop stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were bought at an average price of $24.85 per share, with a total value of $102,879.00. Following the completion of the acquisition, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop 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 sale, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold 3,183 shares of company stock valued at $81,001 over the last quarter. 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. Vanguard Group Inc. grew its stake in shares of GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of GameStop by 12.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after buying an additional 289,947 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of GameStop by 14.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after acquiring an additional 209,861 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after acquiring an additional 342,178 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of GameStop by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after acquiring an additional 25,159 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.