GameStop Corp. (NYSE:GME - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $28.36, but opened at $25.87. GameStop shares last traded at $24.81, with a volume of 11,103,359 shares changing hands.
Analyst Ratings Changes
Several research firms recently commented on GME. Wedbush reiterated an "underperform" rating and set a $10.00 target price on shares of GameStop in a research report on Monday, March 24th. StockNews.com raised GameStop from a "sell" rating to a "hold" rating in a research report on Thursday.
Get Our Latest Research Report on GME
GameStop Stock Performance
The stock's 50 day moving average price is $25.36 and its 200 day moving average price is $25.66. The company has a market capitalization of $9.72 billion, a P/E ratio of 120.92 and a beta of -0.29.
GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.21 EPS. The firm's revenue was down 28.5% compared to the same quarter last year. On average, analysts expect that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.
Insider Transactions at GameStop
In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares of the company's stock, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company's stock.
Institutional Investors Weigh In On GameStop
A number of institutional investors have recently added to or reduced their stakes in GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after acquiring an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in GameStop in the 4th quarter valued at $37,000. R Squared Ltd purchased a new stake in shares of GameStop during the 4th quarter valued at $51,000. Bessemer Group Inc. raised its stake in shares of GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after purchasing an additional 691 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after buying an additional 682 shares during the last quarter. 29.21% of the stock is owned by institutional investors.
About GameStop
(
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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.
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