GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GMEGet Rating) announced its quarterly earnings results on Wednesday. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03), RTT News reports. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.35 billion. GameStop had a negative net margin of 8.54% and a negative return on equity of 34.10%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) earnings per share.

GameStop Price Performance

GME stock opened at $24.79 on Friday. The firm has a market cap of $7.55 billion, a P/E ratio of -14.80 and a beta of -0.48. The firm’s fifty day moving average is $25.90 and its 200 day moving average is $30.18. GameStop has a 52 week low of $19.40 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 2.17.

Institutional Trading of GameStop

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in GameStop by 304.8% during the 3rd quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock worth $607,235,000 after acquiring an additional 18,193,982 shares during the last quarter. State Street Corp raised its holdings in GameStop by 307.5% during the 3rd quarter. State Street Corp now owns 6,928,945 shares of the company’s stock valued at $174,124,000 after buying an additional 5,228,654 shares during the last quarter. Renaissance Technologies LLC boosted its position in GameStop by 11,704.3% during the 1st quarter. Renaissance Technologies LLC now owns 306,912 shares of the company’s stock valued at $51,125,000 after buying an additional 304,312 shares during the period. Alliancebernstein L.P. grew its stake in shares of GameStop by 308.9% in the third quarter. Alliancebernstein L.P. now owns 390,292 shares of the company’s stock worth $9,808,000 after purchasing an additional 294,838 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in GameStop by 274.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 396,549 shares of the company’s stock valued at $9,965,000 after purchasing an additional 290,720 shares during the period. 9.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GME. Wedbush decreased their price target on shares of GameStop from $6.00 to $5.30 and set an “underperform” rating on the stock in a report on Thursday. StockNews.com raised GameStop to a “sell” rating in a research note on Thursday.

About GameStop

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GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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Earnings History for GameStop (NYSE:GME)

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