GameStop (NYSE:GME) Trading 0.4% Higher

GameStop Corp. (NYSE:GME) shares traded up 0.4% on Thursday . The company traded as high as $24.38 and last traded at $24.10. 3,698,329 shares were traded during mid-day trading, a decline of 85% from the average session volume of 25,387,244 shares. The stock had previously closed at $24.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Tuesday. Wedbush decreased their price objective 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 Stock Performance

The company’s 50 day simple moving average is $25.28 and its 200 day simple moving average is $18.24. The stock has a market cap of $8.57 billion, a PE ratio of 302.91 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company had revenue of $881.80 million for the quarter, compared to the consensus estimate of $995.30 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue was down 28.7% on a year-over-year basis. Analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Cheng acquired 4,140 shares of the stock in a transaction dated 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 transaction, 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 sold 3,397 shares of company stock valued at $84,106 in the last three months. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Large investors have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC raised its position in GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC raised its position 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 purchasing an additional 511 shares during the period. CWM LLC raised its position 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 purchasing an additional 1,426 shares during the period. Headlands Technologies LLC purchased a new position in GameStop in the 4th quarter worth $55,000. Finally, First United Bank & Trust purchased a new position in GameStop in the 4th quarter worth $70,000. Hedge funds and other institutional investors 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.