GameStop (NYSE:GME) Shares Up 2.6%

GameStop Corp. (NYSE:GME) shot up 2.6% during trading on Tuesday . The company traded as high as $10.38 and last traded at $10.32. 1,179,582 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,816,962 shares. The stock had previously closed at $10.06.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GME shares. Wedbush dropped their price objective 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 raised GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

GameStop Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The company has a market capitalization of $3.16 billion, a PE ratio of 519.76 and a beta of -0.45. The firm has a 50-day moving average of $13.51 and a 200 day moving average of $14.34.

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). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. As a group, research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lawrence Cheng acquired 10,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were purchased at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares of the company’s stock, valued at $730,287.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the general counsel now owns 64,308 shares of the company’s stock, valued at $746,615.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Cheng purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the acquisition, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,957 shares of company stock valued at $68,971. Insiders own 12.64% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several hedge funds have recently modified their holdings of GME. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of GameStop by 23.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock worth $382,000 after buying an additional 439 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of GameStop by 4.3% in the first quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock worth $3,136,000 after buying an additional 777 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of GameStop by 21.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock worth $390,000 after buying an additional 421 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of GameStop by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock worth $5,759,000 after buying an additional 1,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of GameStop by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock worth $2,108,000 after buying an additional 4,548 shares in the last quarter. Hedge funds and other institutional investors 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.