GameStop (NYSE:GME) Trading Up 0.9%

GameStop Corp. (NYSE:GME)’s stock price rose 0.9% during trading on Monday . The company traded as high as $22.27 and last traded at $22.13. Approximately 1,330,177 shares changed hands during trading, a decline of 94% from the average daily volume of 23,999,969 shares. The stock had previously closed at $21.93.

Analysts Set New Price Targets

Several analysts have recently issued reports on GME shares. Wedbush reduced their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Saturday, August 3rd.

GameStop Stock Down 1.1 %

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 company has a market cap of $7.62 billion, a PE ratio of 276.63 and a beta of -0.09. The firm has a fifty day simple moving average of $25.34 and a 200 day simple moving average of $18.89.

GameStop (NYSE:GME) last announced its quarterly 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). The business 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 company’s quarterly revenue was down 28.7% on a year-over-year basis. During the same period last year, the firm earned ($0.14) earnings per share. Equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction that occurred 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 approximately $1,274,582.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 transaction of $58,320.95. Following the sale, the general counsel now 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Cheng purchased 4,140 shares of the business’s 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 purchase, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Insiders sold 3,183 shares of company stock valued at $81,001 over the last quarter. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of GameStop by 12.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after purchasing an additional 289,947 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after purchasing an additional 209,861 shares in the last quarter. Renaissance Technologies LLC lifted its stake in GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after purchasing an additional 342,178 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after buying an additional 25,159 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.