GameStop (NYSE:GME – Get Free Report) issued its quarterly 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 net margin of 0.13% and a return on equity of 1.37%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.16 EPS. The company’s revenue was down 19.4% compared to the same quarter last year.
GameStop Trading Down 3.8 %
GameStop stock traded down $0.50 during midday trading on Thursday, hitting $12.67. 3,436,829 shares of the stock were exchanged, compared to its average volume of 3,614,729. The stock has a market capitalization of $3.87 billion, a PE ratio of 658.58 and a beta of -0.42. The company has a fifty day simple moving average of $14.30 and a two-hundred day simple moving average of $14.91. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.02. GameStop has a 52 week low of $11.82 and a 52 week high of $27.65.
Analyst Upgrades and Downgrades
GME has been the topic of several analyst reports. Wedbush cut their price objective on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GME. Covestor Ltd grew its stake in shares of GameStop by 323.2% during the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after acquiring an additional 181 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in GameStop in the first quarter valued at approximately $50,000. Comerica Bank acquired a new stake in shares of GameStop in the second quarter valued at approximately $150,000. Captrust Financial Advisors boosted its stake in shares of GameStop by 457.1% during the 1st quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock worth $175,000 after acquiring an additional 864 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in shares of GameStop during the 1st quarter worth approximately $288,000. 29.21% of the stock is owned by institutional investors and hedge funds.
GameStop Company Profile
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.
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