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

GameStop Corp. (NYSE:GME) 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 trading hands.

Analysts Set New Price Targets

GME has been the topic of several research reports. 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. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th.

GameStop Stock Performance

The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.04 billion, a PE ratio of 823.91 and a beta of -0.25. The stock’s 50 day moving average price is $12.73 and its 200 day moving average price is $13.97.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business earned $0.16 earnings per share. The company’s revenue for the quarter 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 Buying and Selling

In other news, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares in the company, valued at approximately $515,995.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,207 shares of company stock valued at $285,048. Corporate insiders own 12.64% of the company’s stock.

Institutional Trading of GameStop

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in GameStop by 399.9% during the 3rd quarter. SG Americas Securities LLC now owns 23,787 shares of the company’s stock worth $392,000 after acquiring an additional 19,029 shares in the last quarter. Xponance Inc. increased its holdings in GameStop by 2.7% in the third quarter. Xponance Inc. now owns 32,094 shares of the company’s stock valued at $528,000 after buying an additional 854 shares during the last quarter. Bank of New York Mellon Corp raised its stake in GameStop by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company’s stock valued at $35,176,000 after buying an additional 16,875 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in GameStop by 1.2% during the 3rd quarter. New York State Teachers Retirement System now owns 290,102 shares of the company’s stock worth $4,775,000 after buying an additional 3,317 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in GameStop by 25.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,008 shares of the company’s stock worth $741,000 after buying an additional 9,195 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

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.