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

GameStop Corp. (NYSE:GME) gapped down prior to trading 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.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GME shares. 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 note on Wednesday, March 27th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

GameStop Price Performance

The stock has a 50 day moving average of $12.73 and a two-hundred day moving average of $13.97. 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 capitalization of $5.04 billion, a P/E ratio of 823.91 and a beta of -0.25.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm 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 company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. Sell-side analysts predict that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the transaction, the insider now owns 13,606 shares of the company’s stock, valued at $138,781.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. Insiders sold a total of 27,207 shares of company stock valued at $285,048 in the last quarter. Insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in GameStop by 1.4% during the third quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company’s stock valued at $416,160,000 after acquiring an additional 345,488 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock valued at $45,693,000 after purchasing an additional 289,947 shares during the period. Barclays PLC raised its stake in shares of GameStop by 133.3% in the third 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. Canada Pension Plan Investment Board lifted its position in GameStop by 844.8% in the third quarter. Canada Pension Plan Investment Board now owns 191,800 shares of the company’s stock worth $3,157,000 after purchasing an additional 171,500 shares during the period. Finally, Van ECK Associates Corp boosted its stake in GameStop by 11.1% during the first quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after buying an additional 147,655 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.