GameStop (NYSE:GME) Trading Down 6.1% – Should You Sell?

by · The Markets Daily

GameStop Corp. (NYSE:GME – Get Free Report) shares traded down 6.1% during mid-day trading on Friday . The stock traded as low as $30.73 and last traded at $30.98. 4,331,796 shares traded hands during trading, a decline of 77% from the average session volume of 18,790,514 shares. The stock had previously closed at $32.99.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush reissued an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research note on Friday, December 6th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Saturday, October 19th.

Check Out Our Latest Stock Report on GME

GameStop Trading Down 4.5 %

The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 175.12 and a beta of -0.11. The firm has a 50-day moving average of $26.65 and a two-hundred day moving average of $24.34.

GameStop (NYSE:GME – Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.09. The company had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s quarterly revenue was down 20.2% compared to the same quarter last year. As a group, equities analysts anticipate that GameStop Corp. will post 0.01 EPS for the current year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares of the company’s stock, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $21.00, for a total transaction of $55,104.00. Following the completion of the sale, the insider now directly owns 32,280 shares in the company, valued at $677,880. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,639 shares of company stock valued at $481,000. Insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its stake in shares of GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after acquiring an additional 959 shares during the last quarter. CWM LLC boosted its stake in GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after purchasing an additional 529 shares in the last quarter. Quest Partners LLC lifted its position in GameStop by 7,156.5% during the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock worth $152,000 after buying an additional 6,083 shares in the last quarter. Centaurus Financial Inc. bought a new stake in GameStop during the 3rd quarter worth about $171,000. Finally, Sterling Investment Advisors Ltd. acquired a new stake in GameStop in the 2nd quarter valued at about $204,000. 29.21% of the stock is owned by institutional investors.

GameStop Company Profile

(Get Free Report)

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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