GameStop (NYSE:GME) Stock Price Up 1%

GameStop Corp. (NYSE:GME)’s share price shot up 1% during trading on Friday . The stock traded as high as $26.11 and last traded at $25.83. 3,433,936 shares were traded during mid-day trading, a decline of 87% from the average session volume of 26,017,699 shares. The stock had previously closed at $25.57.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GME. StockNews.com upgraded GameStop to a “sell” rating in a research note on Wednesday. Wedbush dropped their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th.

GameStop Trading Up 1.4 %

The company has a 50 day moving average of $24.98 and a two-hundred day moving average of $17.67. The stock has a market capitalization of $9.11 billion, a PE ratio of 322.92 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

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

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction on 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 approximately $1,274,582.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GameStop news, insider Daniel William Moore sold 7,779 shares of GameStop stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the transaction, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold 24,647 shares of company stock valued at $300,183 over the last ninety days. 12.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GameStop

Hedge funds and other institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC acquired a new position in shares of GameStop during the 2nd quarter worth about $553,000. CWM LLC raised its holdings in shares of GameStop by 115.6% during the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after acquiring an additional 1,426 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 511 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of GameStop in the first quarter valued at approximately $806,000. Finally, Tidal Investments LLC boosted its stake in shares of GameStop by 659.6% in the first quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after acquiring an additional 121,328 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.