GameStop (NYSE:GME) Shares Up 4.4%

GameStop Corp. (NYSE:GME)’s share price rose 4.4% during trading on Wednesday . The stock traded as high as $10.64 and last traded at $10.61. Approximately 1,969,949 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 3,748,433 shares. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

A number of research firms recently commented on GME. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush cut their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Price Performance

The company’s 50-day simple moving average is $13.02 and its 200 day simple moving average is $14.13. The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 546.50 and a beta of -0.45.

GameStop (NYSE:GME) last released its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. Equities research analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Insider Activity at GameStop

In other GameStop news, Director Lawrence Cheng bought 10,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was bought at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the transaction, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Cheng purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the purchase, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Insiders sold 5,957 shares of company stock valued at $68,971 over the last ninety days. 12.64% of the stock is owned by insiders.

Institutional Trading of GameStop

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in GameStop by 99.7% during the third quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock worth $45,000 after buying an additional 1,352 shares in the last quarter. Fifth Third Bancorp increased its holdings in GameStop by 175.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock worth $47,000 after acquiring an additional 1,819 shares during the period. Headlands Technologies LLC purchased a new stake in GameStop in the 4th quarter worth approximately $55,000. First United Bank & Trust bought a new position in GameStop in the 4th quarter valued at $70,000. Finally, Exchange Traded Concepts LLC grew its position in shares of GameStop by 278.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company’s stock valued at $108,000 after purchasing an additional 4,834 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

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.