GameStop (NYSE:GME) Shares Down 6% – Time to Sell?

GameStop Corp. (NYSE:GME) shares were down 6% during mid-day trading on Tuesday . The stock traded as low as $28.78 and last traded at $29.17. Approximately 5,899,624 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 8,245,287 shares. The stock had previously closed at $31.02.

Analyst Ratings Changes

Several brokerages recently commented on GME. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush reiterated an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research note on Friday, December 6th.

GameStop Stock Performance

The stock has a fifty day simple moving average of $29.41 and a 200 day simple moving average of $24.91. The firm has a market cap of $12.38 billion, a P/E ratio of 153.98 and a beta of -0.02.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The firm’s revenue was down 20.2% compared to the same quarter last year. Research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the sale, the general counsel now owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several institutional investors have recently made changes to their positions in GME. Crossmark Global Holdings Inc. grew its position in GameStop by 2.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after buying an additional 523 shares during the period. UMB Bank n.a. grew its position in shares of GameStop by 59.9% during the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after acquiring an additional 682 shares during the period. Joule Financial LLC bought a new stake in shares of GameStop during the 4th quarter valued at $229,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of GameStop in the 4th quarter worth $252,000. Finally, Christensen King & Associates Investment Services Inc. raised its holdings in GameStop by 1.9% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after purchasing an additional 518 shares during the period. Institutional investors own 29.21% 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.