GameStop (NYSE:GME) Trading Up 11.5%

GameStop Corp. (NYSE:GME - Get Free Report) was up 11.5% during trading on Thursday . The company traded as high as $12.26 and last traded at $12.17. Approximately 5,218,897 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 3,830,133 shares. The stock had previously closed at $10.91.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wedbush dropped their target price 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 shares of GameStop from a "sell" rating to a "hold" rating in a research report on Wednesday, March 27th.

GameStop Stock Up 17.2 %

The business has a 50 day moving average price of $12.68 and a 200 day moving average price of $13.96. The firm has a market capitalization of $3.91 billion, a P/E ratio of 583.29 and a beta of -0.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44.

GameStop (NYSE:GME - Get Free Report) last issued 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 business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. The firm's quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. On average, analysts predict that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in GameStop by 175.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company's stock worth $47,000 after acquiring an additional 1,819 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of GameStop in the 4th quarter valued at $55,000. First United Bank & Trust bought a new stake in shares of GameStop in the 4th quarter valued at $70,000. Exchange Traded Concepts LLC increased its position in shares of GameStop by 278.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company's stock valued at $108,000 after buying an additional 4,834 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in GameStop during the 4th quarter worth $176,000. 29.21% of the stock is currently owned by institutional investors.

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-game downloads.

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