GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GME) released its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the company posted $0.16 EPS. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year.

GameStop Stock Performance

GameStop stock traded down $0.53 during mid-day trading on Thursday, reaching $12.64. The company had a trading volume of 3,937,563 shares, compared to its average volume of 3,617,850. GameStop has a 52 week low of $11.82 and a 52 week high of $27.65. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 658.58 and a beta of -0.42. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $14.30 and a 200-day moving average of $14.91.

Hedge Funds Weigh In On GameStop

A number of hedge funds have recently made changes to their positions in the business. Covestor Ltd increased its position 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 purchasing an additional 181 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in GameStop in the 1st quarter valued at about $50,000. Comerica Bank bought a new position in shares of GameStop in the 2nd quarter valued at about $150,000. Captrust Financial Advisors boosted its stake in shares of GameStop by 457.1% in the 1st quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock valued at $175,000 after purchasing an additional 864 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new position in shares of GameStop in the 1st quarter valued at about $288,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wedbush dropped their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.