GameStop (NYSE:GME) Trading 1.6% Higher

Shares of GameStop Corp. (NYSE:GME) shot up 1.6% during mid-day trading on Thursday . The company traded as high as $24.89 and last traded at $24.37. 11,829,528 shares were traded during mid-day trading, a decline of 85% from the average session volume of 76,757,824 shares. The stock had previously closed at $23.98.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wedbush dropped their price target on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, June 12th. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday, June 20th.

GameStop Trading Up 1.6 %

The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.56 billion, a PE ratio of 304.66 and a beta of -0.10. The business’s fifty day moving average price is $23.40 and its 200 day moving average price is $17.36.

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

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction dated Thursday, June 13th. The shares were 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 in the company, valued at approximately $1,274,582.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Lawrence Cheng purchased 10,000 shares of the stock in a transaction on Monday, April 8th. The stock was purchased at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now owns 65,088 shares in the company, valued at $730,287.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was 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 owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,173 shares of company stock worth $306,100. 12.28% of the stock is owned by company insiders.

Institutional Trading of GameStop

A number of institutional investors and hedge funds have recently bought and sold shares of GME. GAMMA Investing LLC lifted its position in GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after buying an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of GameStop during the 4th quarter valued at $55,000. Russell Investments Group Ltd. boosted its position in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after purchasing an additional 3,025 shares during the period. First United Bank & Trust acquired a new stake in GameStop in the 4th quarter valued at $70,000. Finally, Fifth Third Bancorp raised its position in GameStop by 50.6% in the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after purchasing an additional 1,445 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.