GameStop (NYSE:GME) Trading Down 7%

GameStop Corp. (NYSE:GME) was down 7% on Monday . The company traded as low as $18.73 and last traded at $19.59. Approximately 7,107,238 shares traded hands during trading, a decline of 71% from the average daily volume of 24,606,584 shares. The stock had previously closed at $21.07.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GME shares. StockNews.com raised GameStop to a “sell” rating in a research note on Saturday. Wedbush cut their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th.

GameStop Stock Down 2.2 %

The firm has a market capitalization of $7.31 billion, a PE ratio of 265.00 and a beta of -0.09. The business’s fifty day moving average price is $25.38 and its 200 day moving average price is $18.74. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last announced its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. On average, equities research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at GameStop

In related news, Director Lawrence Cheng acquired 4,140 shares of GameStop stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other GameStop news, Director Lawrence Cheng bought 4,140 shares of the business’s stock in a transaction on Monday, July 8th. The stock was bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the transaction, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. 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 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 transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The disclosure for this sale can be found here. In the last three months, insiders sold 3,183 shares of company stock valued at $81,001. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in GameStop by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after acquiring an additional 289,947 shares during the last quarter. Van ECK Associates Corp increased its position in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after purchasing an additional 209,861 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after purchasing an additional 25,159 shares during the last quarter. Finally, Swiss National Bank raised its stake in GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after buying an additional 1,400 shares in the last quarter. 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.