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 issued to investors on Wednesday.

Separately, Wedbush decreased their price objective on GameStop from $11.00 to $10.00 and set an underperform rating for the company in a report on Wednesday, September 11th.

GameStop Stock Performance

Shares of GME opened at $22.50 on Wednesday. The firm has a market cap of $7.90 billion, a PE ratio of 281.25 and a beta of -0.17. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83. The business’s 50 day moving average price is $22.21 and its two-hundred day moving average price is $20.61.

GameStop (NYSE:GME) last issued its 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. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. GameStop’s revenue was down 31.4% on a year-over-year basis. Research analysts predict that GameStop will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lawrence Cheng bought 4,140 shares of the stock in a transaction dated Monday, July 8th. The stock was bought 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 directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

A number of institutional investors have recently added to or reduced their stakes in GME. United Services Automobile Association grew its holdings in shares of GameStop by 13.2% in the fourth quarter. United Services Automobile Association now owns 21,109 shares of the company’s stock valued at $370,000 after acquiring an additional 2,457 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of GameStop during the 4th quarter valued at $259,000. Treasurer of the State of North Carolina increased its position in shares of GameStop by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock valued at $2,082,000 after purchasing an additional 1,160 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of GameStop during the 4th quarter worth $859,000. Finally, Coatue Management LLC purchased a new position in shares of GameStop in the 4th quarter worth about $1,315,000. 29.21% of the stock is 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.