GameStop (NYSE:GME) Shares Down 6.1% - Should You Sell?

GameStop Corp. (NYSE:GME - Get Free Report) dropped 6.1% during mid-day trading on Friday . The stock traded as low as $30.73 and last traded at $30.98. Approximately 4,331,796 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 18,790,514 shares. The stock had previously closed at $32.99.

Analyst Ratings Changes

Several research analysts have commented on GME shares. StockNews.com upgraded shares of GameStop to a "sell" rating in a research report on Saturday, October 19th. Wedbush restated an "underperform" rating and set a $10.00 target price on shares of GameStop in a research report on Friday, December 6th.

GameStop Price Performance

The firm has a market capitalization of $14.39 billion, a PE ratio of 178.90 and a beta of -0.11. The business's 50 day moving average is $26.87 and its two-hundred day moving average is $24.39.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to analysts' expectations of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company's revenue for the quarter was down 20.2% on a year-over-year basis. Analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 1,972 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the sale, the insider now owns 37,280 shares of the company's stock, valued at approximately $818,668.80. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the transaction, the general counsel now directly owns 43,927 shares in the company, valued at approximately $914,560.14. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GameStop

A number of large investors have recently bought and sold shares of GME. UMB Bank n.a. grew its holdings in shares of GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company's stock worth $26,000 after purchasing an additional 959 shares during the last quarter. CWM LLC increased its position in shares of GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company's stock valued at $73,000 after acquiring an additional 529 shares during the period. Quest Partners LLC raised its stake in shares of GameStop by 7,156.5% during the second 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 during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of GameStop during the third quarter worth about $171,000. Finally, Sterling Investment Advisors Ltd. bought a new stake in shares of GameStop in the second quarter worth about $204,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

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.