GameStop (NYSE:GME) Trading Down 23.6%

GameStop Corp. (NYSE:GME)’s stock price dropped 23.6% on Friday . The stock traded as low as $34.10 and last traded at $35.55. Approximately 115,375,750 shares traded hands during mid-day trading, an increase of 467% from the average daily volume of 20,336,207 shares. The stock had previously closed at $46.55.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush increased their price objective on shares of GameStop from $5.60 to $7.00 and gave the company an “underperform” rating in a research note on Friday, May 17th.

GameStop Trading Down 38.1 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 1,778.39 and a beta of -0.27. The business has a fifty day simple moving average of $17.84 and a 200-day simple moving average of $15.91.

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

Insider Activity

In related news, insider Daniel William Moore sold 7,779 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the sale, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the sale, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Cheng bought 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, with a total value of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 27,421 shares of company stock valued at $288,153. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new position in shares of GameStop in the 3rd quarter worth about $872,000. Rhumbline Advisers lifted its stake in GameStop by 1.7% in the third quarter. Rhumbline Advisers now owns 806,083 shares of the company’s stock valued at $13,268,000 after buying an additional 13,248 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of GameStop by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,316,585 shares of the company’s stock worth $38,131,000 after buying an additional 243,608 shares in the last quarter. Barclays PLC grew its position in shares of GameStop by 133.3% during the 3rd quarter. Barclays PLC now owns 346,830 shares of the company’s stock worth $5,710,000 after buying an additional 198,140 shares during the period. Finally, Invesco Ltd. increased its stake in shares of GameStop by 1.4% in the 3rd quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock valued at $7,283,000 after acquiring an additional 6,311 shares in the last quarter. Institutional investors and hedge funds 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.