GameStop (NYSE:GME) Upgraded at StockNews.com

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

Separately, Wedbush reaffirmed an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Monday, March 24th.

GameStop Stock Performance

Shares of GameStop stock opened at $21.77 on Thursday. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 120.92 and a beta of -0.29. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The stock has a 50 day moving average of $25.36 and a 200 day moving average of $25.66.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. Analysts forecast that GameStop will post 0.08 EPS for the current year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after buying an additional 684 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of GameStop during the fourth quarter worth approximately $37,000. R Squared Ltd purchased a new position in GameStop during the 4th quarter worth $51,000. Bessemer Group Inc. grew its stake in shares of GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares during the period. Hedge funds and other 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.