GameStop (NYSE:GME) Shares Down 1.4%

Shares of GameStop Corp. (NYSE:GME) fell 1.4% on Tuesday . The company traded as low as $23.19 and last traded at $23.27. 2,332,837 shares were traded during trading, a decline of 91% from the average session volume of 25,008,791 shares. The stock had previously closed at $23.60.

Wall Street Analysts Forecast Growth

GME has been the subject of several research analyst reports. Wedbush lowered their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Tuesday, July 23rd.

GameStop Stock Down 2.9 %

The stock has a market cap of $8.05 billion, a PE ratio of 290.91 and a beta of -0.10. The business has a 50 day moving average of $25.26 and a 200-day moving average of $18.43. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last posted its quarterly earnings data on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. GameStop’s revenue was down 28.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) earnings per share. Equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lawrence Cheng purchased 4,140 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Cheng bought 4,140 shares of the company’s stock in a transaction on Monday, July 8th. The shares were acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,397 shares of company stock valued at $84,106. 12.28% of the stock is owned by company insiders.

Institutional Trading of GameStop

Several hedge funds have recently modified their holdings of GME. Modera Wealth Management LLC purchased a new position in GameStop in the 2nd quarter valued at approximately $365,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of GameStop in the second quarter valued at approximately $197,000. Nisa Investment Advisors LLC increased its stake in shares of GameStop by 697.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 32,185 shares of the company’s stock worth $795,000 after purchasing an additional 28,150 shares in the last quarter. AlphaMark Advisors LLC raised its position in shares of GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in GameStop by 38.9% in the 2nd quarter. SG Americas Securities LLC now owns 12,907 shares of the company’s stock valued at $319,000 after buying an additional 3,614 shares in the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

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.