GameStop Corp. (NYSE:GME – Get Free Report)’s stock price gapped down prior to trading on Friday after Wedbush lowered their price target on the stock from $6.20 to $6.00. The stock had previously closed at $18.89, but opened at $18.15. Wedbush currently has an underperform rating on the stock. GameStop shares last traded at $17.89, with a volume of 508,459 shares traded.
Separately, StockNews.com began coverage on GameStop in a research report on Thursday, August 17th. They issued a “sell” rating for the company.
Insider Buying and Selling at GameStop
In other GameStop news, CFO Diana Saadeh-Jajeh sold 10,484 shares of GameStop stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $23.27, for a total transaction of $243,962.68. Following the completion of the transaction, the chief financial officer now directly owns 93,438 shares of the company’s stock, valued at $2,174,302.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Diana Saadeh-Jajeh sold 10,484 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $23.27, for a total value of $243,962.68. Following the completion of the sale, the chief financial officer now directly owns 93,438 shares in the company, valued at $2,174,302.26. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Nir Vinay Patel sold 101,924 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $22.44, for a total value of $2,287,174.56. Following the completion of the sale, the chief operating officer now owns 1,004,695 shares of the company’s stock, valued at $22,545,355.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,990 shares of company stock valued at $3,010,604. 12.64% of the stock is currently owned by company insiders.
Institutional Trading of GameStop
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL bought a new position in GameStop during the second quarter worth about $985,000. Comerica Bank bought a new position in shares of GameStop during the 2nd quarter valued at about $150,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of GameStop by 10.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 44,648 shares of the company’s stock valued at $1,083,000 after purchasing an additional 4,168 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of GameStop during the 2nd quarter valued at about $250,000. Finally, XTX Topco Ltd lifted its holdings in shares of GameStop by 228.4% during the 2nd quarter. XTX Topco Ltd now owns 47,416 shares of the company’s stock valued at $1,150,000 after purchasing an additional 32,976 shares in the last quarter. 39.46% of the stock is currently owned by institutional investors and hedge funds.
GameStop Trading Down 6.7 %
The company has a fifty day moving average price of $20.87 and a two-hundred day moving average price of $21.32. The company has a current ratio of 1.71, a quick ratio of 1.13 and a debt-to-equity ratio of 0.02.
GameStop (NYSE:GME – Get Free Report) last released its earnings results on Wednesday, September 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.11. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GameStop had a negative return on equity of 7.49% and a negative net margin of 1.72%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) EPS. As a group, equities analysts expect that GameStop Corp. will post -0.34 EPS for the current fiscal year.
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-