GameStop (NYSE:GME) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

GameStop (NYSE:GME) announced its quarterly earnings data on Tuesday. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14, FiscalAI reports. GameStop had a net margin of 11.53% and a return on equity of 12.47%. The business had revenue of $835.30 million during the quarter, compared to analyst estimates of $766.64 million.

GameStop Price Performance

Shares of GME traded down $0.48 during mid-day trading on Tuesday, reaching $20.90. The company had a trading volume of 6,754,395 shares, compared to its average volume of 8,848,111. The company has a debt-to-equity ratio of 0.76, a current ratio of 15.30 and a quick ratio of 14.68. The company has a market capitalization of $9.38 billion, a P/E ratio of 28.21 and a beta of 1.84. GameStop has a twelve month low of $19.93 and a twelve month high of $31.05. The company’s 50-day moving average is $23.25 and its 200-day moving average is $22.82.

Analyst Ratings Changes

Several research analysts recently commented on GME shares. Wall Street Zen cut GameStop from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings upgraded shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, GameStop presently has an average rating of “Reduce” and an average target price of $13.50.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 7,210 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total value of $165,397.40. Following the sale, the insider directly owned 101,014 shares in the company, valued at $2,317,261.16. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 3,912 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $23.19, for a total value of $90,719.28. Following the transaction, the general counsel owned 115,230 shares of the company’s stock, valued at $2,672,183.70. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 18,331 shares of company stock worth $421,491. 8.58% of the stock is owned by insiders.

Institutional Trading of GameStop

Several hedge funds have recently modified their holdings of GME. Northwestern Mutual Wealth Management Co. lifted its stake in shares of GameStop by 308.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after acquiring an additional 732 shares during the period. EverSource Wealth Advisors LLC grew its holdings in GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after purchasing an additional 886 shares during the period. Los Angeles Capital Management LLC acquired a new position in GameStop during the 4th quarter worth approximately $39,000. Advisory Services Network LLC bought a new position in shares of GameStop during the 3rd quarter worth approximately $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of GameStop during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.