GameStop (NYSE:GME) Announces Quarterly Earnings Results

GameStop (NYSE:GME) announced its quarterly earnings data on Tuesday. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.09 by $0.21, Zacks reports. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis.

GameStop Trading Down 0.9 %

Shares of GME traded down $0.24 during trading hours on Tuesday, reaching $25.37. The stock had a trading volume of 8,018,032 shares, compared to its average volume of 19,395,874. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 140.95 and a beta of -0.29. The firm has a 50-day simple moving average of $25.63 and a 200 day simple moving average of $25.66. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83.

Analysts Set New Price Targets

Separately, Wedbush reissued an “underperform” rating and set a $10.00 price target on shares of GameStop in a research note on Monday.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares in the company, valued at approximately $975,131.95. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the sale, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

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.