GameStop (NYSE:GME) Issues Earnings Results

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

GameStop Stock Up 0.2%

NYSE GME traded up $0.04 during midday trading on Friday, hitting $22.18. The company had a trading volume of 59,634,725 shares, compared to its average volume of 12,775,486. The firm has a fifty day simple moving average of $27.98 and a two-hundred day simple moving average of $27.41. GameStop has a fifty-two week low of $18.73 and a fifty-two week high of $35.81. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 123.20 and a beta of -0.69.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wedbush reissued an "underperform" rating and set a $13.50 price objective on shares of GameStop in a research report on Wednesday. Wall Street Zen raised GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.

Insider Activity

In other GameStop news, Director Alain Attal purchased 10,000 shares of the stock in a transaction on Thursday, April 10th. The shares were purchased at an average price of $25.75 per share, with a total value of $257,500.00. Following the acquisition, the director now directly owns 572,464 shares of the company's stock, valued at $14,740,948. This represents a 1.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Cohen acquired 500,000 shares of GameStop stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,347,842 shares in the company, valued at $804,845,995.10. This trade represents a 1.36% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 515,000 shares of company stock valued at $11,140,200. Insiders own 12.28% of the company's stock.

Institutional Trading of GameStop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GameStop by 9.2% during the first 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 purchasing an additional 94,892 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of GameStop by 33.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company's stock worth $5,851,000 after buying an additional 65,325 shares during the period. Finally, AQR Capital Management LLC boosted its stake in GameStop by 312.2% in the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company's stock valued at $623,000 after buying an additional 22,297 shares in the last quarter. 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.