GameStop (NYSE:GME) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

GameStop (NYSE:GME) released its earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07), RTT News reports. GameStop had a return on equity of 1.37% and a net margin of 0.13%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was down 19.4% compared to the same quarter last year.

GameStop Trading Down 4.0 %

GME traded down $0.53 during trading on Thursday, hitting $12.64. 3,937,563 shares of the stock were exchanged, compared to its average volume of 3,617,850. The firm has a 50 day simple moving average of $14.30 and a 200 day simple moving average of $14.91. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 658.58 and a beta of -0.42. GameStop has a 1 year low of $11.82 and a 1 year high of $27.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.94 and a current ratio of 1.65.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush lowered their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GME. Vanguard Group Inc. increased its holdings in shares of GameStop by 304.8% in the 3rd quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock valued at $607,235,000 after acquiring an additional 18,193,982 shares during the period. State Street Corp increased its holdings in shares of GameStop by 307.5% in the 3rd quarter. State Street Corp now owns 6,928,945 shares of the company’s stock valued at $174,124,000 after acquiring an additional 5,228,654 shares during the period. Norges Bank purchased a new position in GameStop during the 4th quarter worth $19,508,000. Point72 Asset Management L.P. purchased a new position in GameStop during the 4th quarter worth $11,181,000. Finally, Renaissance Technologies LLC grew its stake in GameStop by 11,704.3% during the 1st quarter. Renaissance Technologies LLC now owns 306,912 shares of the company’s stock worth $51,125,000 after buying an additional 304,312 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

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.