GameStop (NYSE:GME) Announces Quarterly Earnings Results

GameStop (NYSE:GME) released its quarterly earnings results on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.13, Zacks reports. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $732.40 million during the quarter, compared to analyst estimates of $754.23 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. GameStop’s revenue for the quarter was down 16.9% on a year-over-year basis.

GameStop Stock Performance

NYSE:GME opened at $28.52 on Thursday. The firm has a market capitalization of $12.76 billion, a PE ratio of 158.46 and a beta of -0.69. The stock’s fifty day moving average is $28.03 and its 200 day moving average is $27.46. GameStop has a fifty-two week low of $18.73 and a fifty-two week high of $35.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen upgraded GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush restated an “underperform” rating and issued a $13.50 price objective on shares of GameStop in a research report on Wednesday.

Insider Buying and Selling at GameStop

In related news, insider Daniel William Moore sold 1,608 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the transaction, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. This represents a 5.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the sale, the general counsel now directly owns 37,663 shares in the company, valued at $848,547.39. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 515,000 shares of company stock worth $11,140,200 over the last quarter. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake 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 in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of GameStop by 33.2% during the first quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after acquiring an additional 65,325 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GameStop by 9.2% in the first 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 purchasing an additional 94,892 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.