GameStop (NYSE:GME) Issues Earnings Results

GameStop (NYSE:GME) released its quarterly earnings data on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09, Zacks reports. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm had revenue of $860.30 million for the quarter, compared to analysts’ expectations of $887.68 million. The company’s revenue was down 20.2% on a year-over-year basis.

GameStop Price Performance

Shares of NYSE:GME traded down $1.00 during trading on Tuesday, hitting $26.93. The company had a trading volume of 11,467,425 shares, compared to its average volume of 19,096,080. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 207.17 and a beta of -0.11. The company has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $23.99. GameStop has a one year low of $9.95 and a one year high of $64.83.

Wall Street Analyst Weigh In

GME has been the subject of a number of research reports. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush reiterated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the transaction, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This represents a 7.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 2,376 shares of the firm’s stock in a transaction that occurred 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 directly owns 34,904 shares of the company’s stock, valued at $750,436. This represents a 6.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,639 shares of company stock worth $481,000. Company insiders own 12.28% of the company’s stock.

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.