GameStop (NYSE:GME) Shares Gap Down to $23.14

Shares of GameStop Corp. (NYSE:GME) gapped down prior to trading on Tuesday . The stock had previously closed at $23.14, but opened at $22.24. GameStop shares last traded at $21.36, with a volume of 8,645,749 shares trading hands.

Analyst Ratings Changes

GME has been the subject of several analyst reports. Wedbush upped their target price on shares of GameStop from $5.60 to $7.00 and gave the company an “underperform” rating in a research note on Friday, May 17th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th.

GameStop Stock Down 4.5 %

The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 1,056.53 and a beta of -0.25. The firm’s fifty day moving average is $15.31 and its 200-day moving average is $14.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44.

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

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction on Tuesday, April 2nd. The shares were 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 of the company’s stock, valued at $746,615.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the transaction, the general counsel now owns 64,308 shares in the company, valued at approximately $746,615.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Cheng bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average price 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 $730,287.36. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 27,421 shares of company stock valued at $288,153. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several large investors have recently made changes to their positions in GME. Fifth Third Bancorp boosted its holdings in shares of GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock worth $47,000 after buying an additional 1,819 shares during the period. Teacher Retirement System of Texas grew its stake in shares of GameStop by 8.5% in the third quarter. Teacher Retirement System of Texas now owns 21,252 shares of the company’s stock worth $350,000 after acquiring an additional 1,670 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of GameStop by 4.0% in the third quarter. Principal Financial Group Inc. now owns 989,250 shares of the company’s stock worth $16,283,000 after acquiring an additional 38,458 shares during the last quarter. Capula Management Ltd grew its stake in shares of GameStop by 31.4% in the third quarter. Capula Management Ltd now owns 25,840 shares of the company’s stock worth $425,000 after acquiring an additional 6,180 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of GameStop by 8.7% in the third quarter. Victory Capital Management Inc. now owns 47,789 shares of the company’s stock worth $787,000 after acquiring an additional 3,834 shares during the last quarter. 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.