GameStop (NYSE:GME) Shares Down 3.5%

Shares of GameStop Corp. (NYSE:GME – Get Rating) traded down 3.5% during trading on Tuesday . The company traded as low as $23.14 and last traded at $23.37. 580,843 shares traded hands during trading, a decline of 87% from the average session volume of 4,611,118 shares. The stock had previously closed at $24.21.

Analyst Ratings Changes

Separately, StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday.

GameStop Stock Performance

The company has a quick ratio of 1.23, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $21.20 and a two-hundred day moving average price of $21.29.

GameStop (NYSE:GME – Get Rating) last issued its earnings results on Tuesday, March 21st. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.29. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. GameStop had a negative return on equity of 23.09% and a negative net margin of 5.28%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, sell-side analysts expect that GameStop Corp. will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lawrence Cheng acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were purchased at an average price of $22.80 per share, for a total transaction of $114,000.00. Following the completion of the acquisition, the director now owns 37,088 shares of the company’s stock, valued at approximately $845,606.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GameStop

A number of large investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. boosted its position in shares of GameStop by 300.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $25,000 after acquiring an additional 750 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in shares of GameStop during the third quarter worth approximately $32,000. CoreCap Advisors LLC bought a new position in shares of GameStop in the fourth quarter valued at approximately $36,000. Ameritas Advisory Services LLC bought a new position in shares of GameStop in the first quarter valued at approximately $39,000. Finally, Covestor Ltd raised its stake in shares of GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock valued at $39,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 25.57% of the company’s stock.

About GameStop

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.