GameStop (NYSE:GME) Announces 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 the consensus estimate of $0.16 by $0.14, FiscalAI reports. GameStop had a return on equity of 12.47% and a net margin of 11.53%.The business had revenue of $835.30 million for the quarter, compared to the consensus estimate of $766.64 million.

GameStop Trading Down 2.3%

Shares of GME traded down $0.48 during mid-day trading on Tuesday, reaching $20.90. 6,754,395 shares of the company’s stock traded hands, compared to its average volume of 8,848,111. The stock has a market cap of $9.38 billion, a P/E ratio of 28.21 and a beta of 1.84. The stock’s 50-day moving average is $23.25 and its two-hundred day moving average is $22.82. GameStop has a 12 month low of $19.93 and a 12 month high of $31.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 15.30 and a quick ratio of 14.68.

Insider Buying and Selling

In other news, insider Daniel William Moore sold 7,210 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total transaction of $165,397.40. Following the transaction, the insider owned 101,014 shares of the company’s stock, valued at approximately $2,317,261.16. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 7,209 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,374.46. Following the completion of the sale, the general counsel owned 97,946 shares of the company’s stock, valued at $2,246,881.24. The trade was a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,331 shares of company stock worth $421,491. Insiders own 8.58% of the company’s stock.

Institutional Trading of GameStop

A number of hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC purchased a new stake in GameStop during the fourth quarter worth $224,000. Engineers Gate Manager LP purchased a new position in GameStop in the 4th quarter worth $408,000. Amundi purchased a new position in GameStop in the 4th quarter worth $640,000. Jump Financial LLC purchased a new position in GameStop in the 4th quarter worth $7,022,000. Finally, Soviero Asset Management LP acquired a new stake in GameStop during the 4th quarter worth about $4,679,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

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

About GameStop

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.