GameStop (NYSE:GME) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

GameStop (NYSE:GME) posted its quarterly earnings data on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14, FiscalAI reports. GameStop had a net margin of 11.53% and a return on equity of 12.47%. The firm had revenue of $835.30 million during the quarter, compared to the consensus estimate of $766.64 million.

GameStop Price Performance

GME traded down $0.48 during trading on Tuesday, hitting $20.90. 6,754,395 shares of the stock traded hands, compared to its average volume of 8,848,111. The business has a 50 day moving average price of $23.25 and a 200 day moving average price of $22.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 15.30 and a quick ratio of 14.68. GameStop has a twelve month low of $19.93 and a twelve month high of $31.05. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 28.21 and a beta of 1.84.

Analyst Ratings Changes

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

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 7,209 shares of GameStop stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,374.46. Following the sale, the general counsel directly owned 97,946 shares of the company’s stock, valued at approximately $2,246,881.24. The trade was a 6.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel William Moore sold 7,210 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the completion of the transaction, the insider directly owned 101,014 shares of the company’s stock, valued at approximately $2,317,261.16. The trade was a 6.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 18,331 shares of company stock worth $421,491. Corporate insiders own 8.58% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GME. State Street Corp lifted its position in shares of GameStop by 0.8% in the 4th quarter. State Street Corp now owns 12,469,631 shares of the company’s stock worth $250,390,000 after purchasing an additional 96,802 shares during the period. Invesco Ltd. lifted its holdings in GameStop by 5.5% in the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock valued at $110,990,000 after buying an additional 210,523 shares during the period. Northern Trust Corp boosted its position in GameStop by 1.1% during the third quarter. Northern Trust Corp now owns 3,250,275 shares of the company’s stock valued at $88,668,000 after acquiring an additional 35,275 shares during the last quarter. Bank of New York Mellon Corp boosted its position in GameStop by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,381,224 shares of the company’s stock valued at $47,815,000 after acquiring an additional 44,068 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in GameStop by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,205 shares of the company’s stock worth $27,166,000 after acquiring an additional 30,940 shares during the period. 29.21% of the stock is currently owned by institutional investors.

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.