GameStop (NYSE:GME) Shares Gap Down to $12.76

GameStop Corp. (NYSE:GME)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $12.76, but opened at $12.42. GameStop shares last traded at $13.49, with a volume of 4,016,491 shares changing hands.

Analyst Ratings Changes

GME has been the subject of a number of analyst reports. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Wedbush dropped their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Trading Up 29.3 %

The firm has a fifty day moving average price of $12.73 and a 200-day moving average price of $13.97. The company has a market capitalization of $5.05 billion, a P/E ratio of 825.41 and a beta of -0.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44.

GameStop (NYSE:GME) last announced its quarterly earnings data 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 the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. On average, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on 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 owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GameStop news, insider Daniel William Moore sold 7,779 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the transaction, the insider now 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 available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the transaction, the general counsel now owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,207 shares of company stock valued at $285,048. Company insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new position in GameStop during the 3rd quarter valued at about $872,000. Rhumbline Advisers lifted its stake in GameStop by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 806,083 shares of the company’s stock worth $13,268,000 after purchasing an additional 13,248 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in GameStop by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,316,585 shares of the company’s stock worth $38,131,000 after purchasing 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 valued at $5,710,000 after purchasing an additional 198,140 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of GameStop by 1.4% during the 3rd quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock valued at $7,283,000 after purchasing an additional 6,311 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Company Profile

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.