GameStop (NYSE:GME) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GMEFree Report) to a sell rating in a research note released on Thursday morning.

Separately, Wedbush reduced their price target on GameStop from $13.50 to $11.00 and set an underperform rating on the stock in a research report on Wednesday, June 12th.

Read Our Latest Research Report on GameStop

GameStop Stock Performance

Shares of NYSE GME opened at $23.93 on Thursday. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 299.16 and a beta of -0.27. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. GameStop has a 1-year low of $9.95 and a 1-year high of $64.83. The stock’s 50-day moving average is $21.17 and its 200 day moving average is $16.91.

GameStop (NYSE:GMEGet Free Report) last announced its quarterly earnings data on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business’s quarterly revenue was down 28.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share. On average, sell-side analysts anticipate that GameStop will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total transaction of $58,320.95. Following the transaction, the general counsel now directly owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Cheng bought 10,000 shares of GameStop stock in a transaction dated Monday, April 8th. The shares were acquired at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 29,636 shares of company stock worth $346,474. 12.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GameStop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in GameStop in the third quarter worth $872,000. Coatue Management LLC purchased a new stake in GameStop in the fourth quarter worth $1,315,000. Rhumbline Advisers grew its stake in GameStop by 1.7% in the third quarter. Rhumbline Advisers now owns 806,083 shares of the company’s stock worth $13,268,000 after purchasing an additional 13,248 shares during the period. Invesco Ltd. boosted its holdings in GameStop by 1.4% in the third quarter. Invesco Ltd. now owns 442,444 shares of the company’s stock worth $7,283,000 after acquiring an additional 6,311 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new stake in GameStop in the fourth quarter worth $184,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

About GameStop

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.