GameStop (NYSE:GME) Stock Price Down 3.2% – Here’s Why

GameStop Corp. (NYSE:GME) was down 3.2% during mid-day trading on Friday . The stock traded as low as $29.83 and last traded at $29.90. Approximately 2,623,013 shares were traded during trading, a decline of 86% from the average daily volume of 19,183,193 shares. The stock had previously closed at $30.89.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush reduced their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th.

GameStop Stock Down 5.5 %

The company’s 50 day moving average is $23.63 and its 200 day moving average is $24.06. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 237.63 and a beta of -0.13.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $798.30 million for the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. On average, analysts expect that GameStop Corp. will post 0.01 EPS for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 2,376 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $21.50, for a total value of $51,084.00. Following the sale, the insider now owns 34,904 shares of the company’s stock, valued at approximately $750,436. This trade represents a 6.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of GameStop stock in a transaction on Wednesday, October 2nd. The shares were 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 owns 54,927 shares in the company, valued at approximately $1,206,196.92. The trade was a 7.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock valued at $481,000 in the last three months. Corporate insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several large investors have recently bought and sold shares of GME. AlphaMark Advisors LLC raised its stake in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after acquiring an additional 396 shares in the last quarter. GAMMA Investing LLC increased its position in GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares in the last quarter. CWM LLC lifted its stake in GameStop by 19.9% in the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares during the last quarter. UMB Bank n.a. boosted its position in 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 buying an additional 959 shares in the last quarter. Finally, United Services Automobile Association boosted its position in GameStop by 4.6% in the third quarter. United Services Automobile Association now owns 22,500 shares of the company’s stock valued at $516,000 after buying an additional 999 shares in the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

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.