GameStop (NYSE:GME) Trading Down 9%

GameStop Corp. (NYSE:GME)’s stock price was down 9% during mid-day trading on Monday . The company traded as low as $22.31 and last traded at $22.47. Approximately 15,102,972 shares traded hands during mid-day 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

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Thursday, June 20th. Wedbush lowered their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th.

GameStop Price Performance

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 $8.12 billion, a PE ratio of 280.91 and a beta of -0.10. The company has a 50-day moving average of $22.59 and a two-hundred day moving average of $17.22.

GameStop (NYSE:GME) last released its 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). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. During the same period in the prior year, the business posted ($0.14) earnings per share. GameStop’s revenue was down 28.7% on a year-over-year basis. Sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares of the company’s stock, valued at $515,995.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the sale, the insider now owns 13,606 shares in the company, valued at $138,781.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,636 shares of company stock valued at $346,474. 12.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GME. Headlands Technologies LLC purchased a new position in shares of GameStop during the 4th quarter valued at approximately $55,000. Russell Investments Group Ltd. grew 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 acquiring an additional 3,025 shares in the last quarter. First United Bank & Trust bought a new stake in shares of GameStop in the 4th quarter worth about $70,000. Fifth Third Bancorp raised its stake in GameStop by 50.6% during the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after buying an additional 1,445 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in GameStop during the 1st quarter worth approximately $153,000. Hedge funds and other 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.