GameStop (NYSE:GME) Upgraded by StockNews.com to Sell

GameStop (NYSE:GME) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Thursday.

Separately, Wedbush reduced their price objective on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th.

GameStop Stock Down 2.1 %

Shares of GameStop stock opened at $24.70 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The company has a 50-day moving average of $20.62 and a 200 day moving average of $16.78. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 308.79 and a beta of -0.27. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $881.80 million during the quarter, compared to the consensus estimate of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The firm’s revenue was down 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) earnings per share. As a group, sell-side analysts anticipate that GameStop will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the sale, the general counsel now directly owns 50,837 shares in the company, valued at approximately $515,995.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Daniel William Moore sold 7,779 shares of GameStop stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the sale, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares of the company’s stock, valued at $515,995.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,636 shares of company stock worth $346,474. 12.28% of the stock is owned by corporate insiders.

Institutional Trading of GameStop

A number of large investors have recently made changes to their positions in GME. Headlands Technologies LLC bought a new stake in shares of GameStop in the fourth quarter worth approximately $55,000. Russell Investments Group Ltd. boosted its holdings in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after buying an additional 3,025 shares during the last quarter. First United Bank & Trust bought a new stake in GameStop during the fourth quarter valued at approximately $70,000. Fifth Third Bancorp grew its position in GameStop by 50.6% during the fourth quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after buying an additional 1,445 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in GameStop during the first quarter valued at approximately $153,000. 29.21% of the stock is currently owned by institutional investors.

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.