GameStop (NYSE:GME) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

GameStop (NYSE:GME - Get Free Report) announced its earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.13, Zacks reports. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. During the same period last year, the firm earned ($0.12) earnings per share. The company's revenue was down 16.9% on a year-over-year basis.

GameStop Trading Down 5.4%

GameStop stock traded down $1.63 during midday trading on Wednesday, hitting $28.52. The stock had a trading volume of 16,574,511 shares, compared to its average volume of 9,800,341. The business has a fifty day moving average price of $27.92 and a 200 day moving average price of $27.46. GameStop has a 12 month low of $18.73 and a 12 month high of $35.81. The stock has a market cap of $12.76 billion, a P/E ratio of 158.46 and a beta of -0.69.

Insiders Place Their Bets

In related news, Director Alain Attal purchased 10,000 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the transaction, the director now owns 572,464 shares of the company's stock, valued at $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 1,608 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now owns 29,777 shares of the company's stock, valued at $670,875.81. This represents a 5.12% decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 515,000 shares of company stock valued at $11,140,200 in the last quarter. Insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On GameStop

Several large investors have recently bought and sold shares of GME. AQR Capital Management LLC boosted its position in shares of GameStop by 312.2% during the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company's stock valued at $623,000 after purchasing an additional 22,297 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in GameStop by 33.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company's stock valued at $5,851,000 after acquiring an additional 65,325 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in GameStop by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company's stock valued at $25,255,000 after buying an additional 94,892 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on GME shares. Wall Street Zen upgraded GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush restated an "underperform" rating and issued a $13.50 price target on shares of GameStop in a research note on Wednesday.

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.