StockNews.com Upgrades GameStop (NYSE:GME) to “Sell”

GameStop (NYSE:GMEGet Free Report) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report released on Wednesday.

Separately, Wedbush dropped their price target on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th.

Read Our Latest Stock Report on GME

GameStop Price Performance

NYSE GME opened at $24.57 on Wednesday. The firm’s fifty day simple moving average is $24.17 and its two-hundred day simple moving average is $17.51. The firm has a market capitalization of $8.63 billion, a P/E ratio of 307.13 and a beta of -0.10. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83.

GameStop (NYSE:GMEGet Free Report) last posted its quarterly earnings data on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was down 28.7% on a year-over-year basis. Analysts forecast that GameStop will post 0.08 EPS for the current fiscal year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the sale, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the sale, the general counsel now owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the transaction, the insider now owns 13,606 shares of the company’s stock, valued at $138,781.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,647 shares of company stock valued at $300,183. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in GameStop by 93.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 86,428 shares of the company’s stock worth $1,422,000 after buying an additional 41,780 shares during the last quarter. Vanguard Group Inc. boosted its holdings in GameStop by 1.4% in the third quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company’s stock valued at $416,160,000 after purchasing an additional 345,488 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in GameStop in the fourth quarter valued at approximately $184,000. SG Americas Securities LLC raised its holdings in GameStop by 35.5% during the fourth quarter. SG Americas Securities LLC now owns 32,227 shares of the company’s stock worth $565,000 after purchasing an additional 8,440 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of GameStop by 78.5% during the 4th quarter. Pacer Advisors Inc. now owns 41,110 shares of the company’s stock worth $721,000 after buying an additional 18,075 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

GameStop Company Profile

(Get Free Report)

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.

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