GameStop (NYSE:GME) Trading Down 4.7%

GameStop Corp. (NYSE:GME - Get Free Report)'s share price dropped 4.7% on Friday . The stock traded as low as $10.97 and last traded at $10.99. Approximately 1,329,649 shares changed hands during trading, a decline of 65% from the average daily volume of 3,800,998 shares. The stock had previously closed at $11.53.

Analyst Upgrades and Downgrades

GME has been the subject of several recent analyst reports. Wedbush lowered their target price on GameStop from $6.00 to $5.60 and set an "underperform" rating for the company in a research note 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 Down 2.3 %

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 firm's 50-day moving average price is $13.93 and its 200 day moving average price is $14.64. The firm has a market cap of $3.44 billion, a P/E ratio of 563.00 and a beta of -0.45.

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 the consensus estimate of $0.29 by ($0.07). GameStop had a return on equity of 1.35% and a net margin of 0.13%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business posted $0.16 EPS. The business's revenue for the quarter was down 19.4% on a year-over-year basis. On average, equities research analysts expect that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GameStop

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of GameStop by 21.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,025 shares of the company's stock valued at $211,000 after purchasing an additional 2,105 shares during the period. Vanguard Group Inc. increased its stake in shares of GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company's stock valued at $446,143,000 after acquiring an additional 167,145 shares during the period. Wellington Management Group LLP increased its stake in shares of GameStop by 312.2% during the fourth quarter. Wellington Management Group LLP now owns 77,097 shares of the company's stock valued at $1,352,000 after acquiring an additional 58,394 shares during the period. Virtu Financial LLC acquired a new position in shares of GameStop during the fourth quarter valued at approximately $316,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of GameStop by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 174,571 shares of the company's stock valued at $3,061,000 after acquiring an additional 14,404 shares during the period. Institutional investors and hedge funds 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.