The GameStop Corp. (GME) Shares Gap Up After Earnings Beat

The GameStop Corp. (GME) Shares Gap Up  After Earnings Beat

The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.74%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year.

GameStop Corp. (NYSE:GME) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $21.82, but opened at $22.71. GameStop Corp. shares last traded at $23.62, with a volume of 7,671,456 shares changing hands.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Wednesday, June 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date of this dividend is Monday, June 5th. GameStop Corp.’s payout ratio is presently 39.47%. A number of analysts have issued reports on the stock. Loop Capital reiterated a “buy” rating and issued a $28.00 target price on shares of GameStop Corp. in a research note on Sunday, May 28th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of GameStop Corp. in a research note on Saturday, March 25th. Vetr cut shares of GameStop Corp. from a “buy” rating to a “hold” rating and set a $27.50 price objective for the company. in a research note on Monday, February 27th. Telsey Advisory Group upgraded shares of GameStop Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 10th. Finally, Mizuho restated a “buy” rating and issued a $27.00 price objective on shares of GameStop Corp. in a research note on Friday, March 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.86.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ARGI Investment Services LLC increased its position in GameStop Corp. by 6.8% in the third quarter. ARGI Investment Services LLC now owns 71,854 shares of the company’s stock worth $1,982,000 after buying an additional 4,567 shares during the period. Two Sigma Investments LP boosted its position in GameStop Corp. by 15,333.6% in the fourth quarter. Two Sigma Investments LP now owns 571,042 shares of the company’s stock worth $14,425,000 after buying an additional 567,342 shares in the last quarter. Prudential PLC raised its position in GameStop Corp. by 20.9% in the fourth quarter. Prudential PLC now owns 393,053 shares of the company’s stock worth $9,929,000 after buying an additional 68,053 shares in the last quarter. Alpha Windward LLC bought a new position in GameStop Corp. during the first quarter worth approximately $422,000. Finally, Sanders Morris Harris Inc. acquired a new position in shares of GameStop Corp. during the first quarter valued at about $1,834,000. The firm has a 50-day moving average price of $23.44 and a 200 day moving average price of $24.17. The stock has a market cap of $2.26 billion, a P/E ratio of 6.64 and a beta of 1.18.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ARGI Investment Services LLC increased its position in GameStop Corp. by 6.8% in the third quarter. ARGI Investment Services LLC now owns 71,854 shares of the company’s stock worth $1,982,000 after buying an additional 4,567 shares during the period. Two Sigma Investments LP boosted its position in GameStop Corp. by 15,333.6% in the fourth quarter. Two Sigma Investments LP now owns 571,042 shares of the company’s stock worth $14,425,000 after buying an additional 567,342 shares in the last quarter. Prudential PLC raised its position in GameStop Corp. by 20.9% in the fourth quarter. Prudential PLC now owns 393,053 shares of the company’s stock worth $9,929,000 after buying an additional 68,053 shares in the last quarter. Alpha Windward LLC bought a new position in GameStop Corp. during the first quarter worth approximately $422,000. Finally, Sanders Morris Harris Inc. acquired a new position in shares of GameStop Corp. during the first quarter valued at about $1,834,000. GameStop Corp. Company Profile

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “GME”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Receive News & Ratings for GameStop Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for GameStop Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “GME”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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