GameStop (NYSE:GME) Shares Down 6% – Time to Sell?

GameStop Corp. (NYSE:GME) shares were down 6% during mid-day trading on Tuesday . The company traded as low as $28.78 and last traded at $29.17. Approximately 5,899,624 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 8,245,287 shares. The stock had previously closed at $31.02.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wedbush reissued an “underperform” rating and set a $10.00 target price on shares of GameStop in a report on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Trading Down 6.5 %

The stock has a fifty day moving average price of $29.14 and a 200 day moving average price of $24.85. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of 161.06 and a beta of -0.02.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, sell-side analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Several large investors have recently bought and sold shares of GME. UMB Bank n.a. increased its holdings in GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after purchasing an additional 959 shares in the last quarter. CWM LLC grew its holdings in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after buying an additional 529 shares in the last quarter. GAMMA Investing LLC raised its position in GameStop by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock valued at $112,000 after buying an additional 1,414 shares during the last quarter. Quest Partners LLC lifted its stake in GameStop by 7,156.5% in the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after acquiring an additional 6,083 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in GameStop during the 3rd quarter worth approximately $171,000. 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.