GameStop (NYSE:GME) Sees Large Volume Increase

GameStop Corp. (NYSE:GME) shares saw unusually-high trading volume on Tuesday . Approximately 1,960,792 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 3,114,745 shares.The stock last traded at $15.02 and had previously closed at $15.12.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GME. Wedbush dropped their price target on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday.

GameStop Stock Down 15.1 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.94 and a current ratio of 1.65. The firm has a 50 day simple moving average of $14.30 and a two-hundred day simple moving average of $14.91. The stock has a market cap of $4.02 billion, a P/E ratio of 658.58 and a beta of -0.42.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.37%. GameStop’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Equities research analysts predict that GameStop Corp. will post 0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd lifted its position in GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. Captrust Financial Advisors lifted its holdings in shares of GameStop by 24.8% in the second quarter. Captrust Financial Advisors now owns 1,314 shares of the company’s stock valued at $161,000 after buying an additional 261 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of GameStop in the first quarter valued at $50,000. Prudential Financial Inc. boosted its stake in GameStop by 8.5% during the second quarter. Prudential Financial Inc. now owns 4,640 shares of the company’s stock valued at $567,000 after buying an additional 365 shares in the last quarter. Finally, FMR LLC grew its holdings in GameStop by 4.6% during the second quarter. FMR LLC now owns 8,391 shares of the company’s stock worth $1,026,000 after acquiring an additional 370 shares during the period. 29.21% of the stock is currently owned by institutional investors.

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.