GameStop (NYSE:GME) Stock Price Down 0.8%

GameStop Corp. (NYSE:GME) shares were down 0.8% during trading on Wednesday . The company traded as low as $21.90 and last traded at $22.10. Approximately 1,529,721 shares changed hands during trading, a decline of 94% from the average daily volume of 23,745,342 shares. The stock had previously closed at $22.27.

Analysts Set New Price Targets

A number of research analysts have recently commented on GME shares. StockNews.com raised GameStop to a “sell” rating in a report on Saturday, August 3rd. Wedbush lowered their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, June 12th.

GameStop Trading Down 1.2 %

The business has a fifty day moving average of $25.13 and a 200-day moving average of $19.00. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 276.25 and a beta of -0.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42.

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

Insider Activity at GameStop

In related news, Director Lawrence Cheng purchased 4,140 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GameStop news, Director Lawrence Cheng acquired 4,140 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was purchased at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the sale, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders sold 3,183 shares of company stock worth $81,001 in the last quarter. 12.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On GameStop

Institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its holdings in shares of GameStop by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock valued at $2,943,000 after buying an additional 3,459 shares during the last quarter. Coatue Management LLC bought a new position in shares of GameStop in the 4th quarter valued at approximately $1,315,000. State of Michigan Retirement System raised its stake in shares of GameStop by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock valued at $826,000 after acquiring an additional 1,600 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of GameStop by 2.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock valued at $2,438,000 after acquiring an additional 5,411 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of GameStop by 7.0% in the 1st quarter. BNP Paribas Financial Markets now owns 157,242 shares of the company’s stock valued at $1,969,000 after acquiring an additional 10,289 shares in the last quarter. 29.21% of the stock is currently 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.