GameStop Corp. (NYSE:GME - Get Free Report) rose 4.3% during mid-day trading on Wednesday . The stock traded as high as $24.19 and last traded at $23.65. Approximately 1,649,109 shares were traded during trading, a decline of 92% from the average daily volume of 19,831,727 shares. The stock had previously closed at $22.68.
Wall Street Analysts Forecast Growth
GME has been the topic of several recent research reports. Wedbush decreased their price target on shares of GameStop from $11.00 to $10.00 and set an "underperform" rating on the stock in a research report on Wednesday, September 11th. StockNews.com raised GameStop to a "sell" rating in a report on Saturday, October 19th.
View Our Latest Research Report on GameStop
GameStop Stock Performance
The company has a market capitalization of $8.17 billion, a PE ratio of 286.75 and a beta of -0.19. The company's fifty day moving average is $21.59 and its 200-day moving average is $22.10.
GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. The firm had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The company's revenue was down 31.4% on a year-over-year basis. During the same period last year, the firm earned ($0.03) EPS. On average, sell-side analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.
Insider Activity at GameStop
In other GameStop news, insider Daniel William Moore sold 1,972 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the transaction, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares of the company's stock, valued at approximately $1,206,196.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel William Moore sold 1,972 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 37,280 shares of the company's stock, valued at $818,668.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its stake in GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company's stock worth $26,000 after acquiring an additional 959 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company's stock valued at $33,000 after buying an additional 396 shares during the period. Centerpoint Advisors LLC purchased a new position in GameStop during the second quarter worth $47,000. GAMMA Investing LLC increased its position in 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. Finally, CWM LLC raised its stake in shares of GameStop by 115.6% in 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 period. 29.21% of the stock is currently owned by institutional investors.
About GameStop
(
Get Free Report)
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.
See Also
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