GameStop (NYSE:GME) Shares Down 7.2%

Shares of GameStop Corp. (NYSE:GME - Get Free Report) were down 7.2% on Tuesday . The stock traded as low as $15.00 and last traded at $15.13. Approximately 1,640,182 shares traded hands during trading, a decline of 65% from the average daily volume of 4,713,082 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GME. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a report on Wednesday, March 27th. Wedbush dropped their target price on shares of GameStop from $6.00 to $5.60 and set an "underperform" rating on the stock in a report on Wednesday, March 27th.

GameStop Stock Performance

The stock's 50 day moving average is $12.82 and its two-hundred day moving average is $14.01. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 815.41 and a beta of -0.25. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). GameStop had a return on equity of 1.35% and a net margin of 0.13%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.16 EPS. The company's revenue was down 19.4% compared to the same quarter last year. Analysts expect that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 13,471 shares of the company's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the business's stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the sale, the general counsel now directly owns 50,837 shares in the company, valued at approximately $515,995.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Cheng acquired 10,000 shares of the stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The disclosure for this purchase can be found here. Insiders sold a total of 27,421 shares of company stock valued at $288,153 over the last three months. Insiders own 12.28% of the company's stock.

Institutional Investors Weigh In On GameStop

Several institutional investors have recently made changes to their positions in GME. Vanguard Group Inc. raised its holdings in GameStop by 0.7% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 12.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company's stock worth $45,693,000 after purchasing an additional 289,947 shares during the period. Bank of New York Mellon Corp raised its stake in GameStop by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company's stock valued at $35,176,000 after purchasing an additional 16,875 shares in the last quarter. Northern Trust Corp lifted its position in GameStop by 2.1% during the third quarter. Northern Trust Corp now owns 1,932,666 shares of the company's stock worth $31,812,000 after purchasing an additional 40,602 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company's stock worth $18,519,000 after acquiring an additional 147,655 shares during the period. 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.