GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GME) posted its quarterly earnings results on Tuesday. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.21, Zacks reports. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. GameStop’s quarterly revenue was down 28.5% on a year-over-year basis.

GameStop Stock Performance

Shares of NYSE:GME traded down $0.24 on Tuesday, hitting $25.37. The stock had a trading volume of 8,018,032 shares, compared to its average volume of 19,395,874. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 140.95 and a beta of -0.29. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83. The firm’s 50 day moving average price is $25.63 and its 200-day moving average price is $25.66.

Insider Transactions at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now owns 31,385 shares of the company’s stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Wedbush reiterated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research note on Monday.

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.