GameStop (NYSE:GME) Shares Up 2.6%

GameStop Corp. (NYSE:GME) shares rose 2.6% during mid-day trading on Tuesday . The stock traded as high as $10.38 and last traded at $10.32. Approximately 1,179,582 shares traded hands during trading, a decline of 69% from the average daily volume of 3,816,962 shares. The stock had previously closed at $10.06.

Wall Street Analyst Weigh In

GME has been the subject of a number of research reports. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush cut their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th.

GameStop Stock Performance

The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 519.76 and a beta of -0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The firm has a fifty day moving average of $13.51 and a 200 day moving average of $14.34.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a return on equity of 1.35% and a net margin of 0.13%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was down 19.4% on a year-over-year basis. As a group, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Lawrence Cheng bought 10,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was bought at an average cost of $11.22 per share, with a total value of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the sale, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The disclosure for this sale can be found here. Insiders have sold 5,957 shares of company stock valued at $68,971 over the last 90 days. 12.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GME. Cambridge Investment Research Advisors Inc. boosted its position in GameStop by 23.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock valued at $382,000 after buying an additional 439 shares during the period. Citigroup Inc. raised its stake in shares of GameStop by 4.3% in the first quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock valued at $3,136,000 after acquiring an additional 777 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in GameStop by 21.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock valued at $390,000 after purchasing an additional 421 shares during the period. Great West Life Assurance Co. Can grew its stake in GameStop by 5.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock worth $5,759,000 after purchasing an additional 1,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in GameStop by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock worth $2,108,000 after purchasing an additional 4,548 shares during the period. Institutional investors and hedge funds 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.