GameStop (NYSE:GME) Raised to Sell at StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a research note published on Wednesday.

Separately, Wedbush cut their price objective on GameStop from $11.00 to $10.00 and set an underperform rating for the company in a report on Wednesday.

GameStop Stock Performance

Shares of NYSE GME opened at $20.64 on Wednesday. The firm’s 50-day moving average price is $23.25 and its 200-day moving average price is $20.16. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83. The company has a market cap of $7.25 billion, a PE ratio of 258.00 and a beta of -0.17. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The firm’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. As a group, analysts anticipate that GameStop will post 0.08 EPS for the current year.

Insider Buying and Selling

In other GameStop news, Director Lawrence Cheng bought 4,140 shares of GameStop stock in a transaction on Monday, July 8th. The stock was acquired at an average cost of $24.85 per share, with a total value 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GameStop

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in GameStop by 19.3% during the fourth quarter. Victory Capital Management Inc. now owns 56,999 shares of the company’s stock valued at $999,000 after purchasing an additional 9,210 shares during the period. Charles Schwab Investment Management Inc. increased 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 in the last quarter. BNP Paribas Financial Markets raised its stake in GameStop by 527.0% during the 4th quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock worth $2,576,000 after acquiring an additional 123,516 shares during the period. United Services Automobile Association lifted its holdings in GameStop by 13.2% during the fourth quarter. United Services Automobile Association now owns 21,109 shares of the company’s stock valued at $370,000 after purchasing an additional 2,457 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of GameStop in the fourth quarter worth approximately $259,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Company Profile

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.