Weiss Ratings Reiterates Hold (C-) Rating for GameStop (NYSE:GME)

GameStop (NYSE:GME)‘s stock had its “hold (c-)” rating reiterated by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wedbush raised shares of GameStop to a “strong sell” rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, GameStop currently has an average rating of “Reduce” and an average price target of $13.50.

GameStop Stock Up 0.2%

Shares of GME opened at $24.41 on Wednesday. The firm has a market cap of $10.93 billion, a PE ratio of 33.44 and a beta of -0.86. The company’s fifty day moving average is $24.07 and its two-hundred day moving average is $25.21. GameStop has a fifty-two week low of $20.30 and a fifty-two week high of $35.81. The company has a quick ratio of 10.79, a current ratio of 11.37 and a debt-to-equity ratio of 0.80.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 9th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. GameStop had a net margin of 9.41% and a return on equity of 7.72%. The business had revenue of $972.20 million for the quarter, compared to the consensus estimate of $823.25 million. During the same quarter last year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts forecast that GameStop will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 6,509 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $179,518.22. Following the completion of the sale, the insider directly owned 112,620 shares of the company’s stock, valued at $3,106,059.60. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $122,703.42. Following the completion of the sale, the general counsel directly owned 112,302 shares of the company’s stock, valued at $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,873 shares of company stock worth $589,070 in the last 90 days. 8.58% of the stock is owned by company insiders.

Institutional Trading of GameStop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GME. GAMMA Investing LLC increased its stake in GameStop by 3,692.6% in the first quarter. GAMMA Investing LLC now owns 135,170 shares of the company’s stock valued at $3,017,000 after acquiring an additional 131,606 shares during the period. UMB Bank n.a. grew its stake in GameStop by 100.6% during the first quarter. UMB Bank n.a. now owns 3,651 shares of the company’s stock worth $81,000 after buying an additional 1,831 shares during the last quarter. SG Americas Securities LLC bought a new stake in GameStop during the first quarter worth about $934,000. Fifth Third Bancorp grew its stake in GameStop by 10.3% during the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company’s stock worth $139,000 after buying an additional 579 shares during the last quarter. Finally, Scratch Capital LLC grew its stake in GameStop by 3.3% during the first quarter. Scratch Capital LLC now owns 23,570 shares of the company’s stock worth $526,000 after buying an additional 750 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

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.