GameStop (NYSE:GME) Price Target Lowered to $10.00 at Wedbush

GameStop (NYSE:GME) had its price objective cut by Wedbush from $11.00 to $10.00 in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have an underperform rating on the stock. Wedbush also issued estimates for GameStop’s FY2027 earnings at $0.04 EPS.

Separately, StockNews.com upgraded shares of GameStop to a sell rating in a research report on Monday, August 26th.

GameStop Stock Performance

GameStop stock opened at $20.64 on Wednesday. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The firm’s fifty day moving average price is $23.25 and its 200-day moving average price is $20.16. The stock has a market cap of $7.25 billion, a P/E ratio of 258.00 and a beta of -0.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The firm had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company’s revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts expect that GameStop will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In related news, Director Lawrence Cheng acquired 4,140 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the acquisition, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several hedge funds and other institutional investors have recently bought and sold shares of GME. Cubist Systematic Strategies LLC bought a new position in shares of GameStop in the second quarter worth approximately $9,577,000. Renaissance Technologies LLC grew its holdings in GameStop by 34.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after acquiring an additional 342,178 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in GameStop by 12.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after acquiring an additional 289,947 shares during the last quarter. Van ECK Associates Corp increased its position in shares of GameStop by 14.2% in the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after acquiring an additional 209,861 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after acquiring an additional 167,145 shares during the last quarter. Institutional investors own 29.21% 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.