GameStop (NYSE:GME) Releases Quarterly Earnings Results

GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13, Zacks reports. The company had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) earnings per share.

GameStop Price Performance

Shares of NYSE:GME opened at $28.52 on Thursday. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 158.46 and a beta of -0.69. The business’s 50-day moving average is $28.03 and its 200-day moving average is $27.46. GameStop has a 1 year low of $18.73 and a 1 year high of $35.81.

Insider Buying and Selling

In other news, Director Alain Attal purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average cost of $25.75 per share, with a total value of $257,500.00. Following the purchase, the director now owns 572,464 shares in the company, valued at $14,740,948. This represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 1,608 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the sale, the insider now directly owns 29,777 shares of the company’s stock, valued at approximately $670,875.81. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is owned by company insiders.

Institutional Trading of GameStop

Several large investors have recently bought and sold shares of GME. AQR Capital Management LLC raised its holdings in GameStop by 312.2% in the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock worth $623,000 after acquiring an additional 22,297 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in GameStop by 33.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after buying an additional 65,325 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in GameStop by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock valued at $25,255,000 after buying an additional 94,892 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wedbush reaffirmed an “underperform” rating and issued a $13.50 price objective on shares of GameStop in a research report on Wednesday. Wall Street Zen raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

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.