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

GameStop (NYSE:GME) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued on Wednesday.

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

GameStop Stock Performance

GME stock traded down $2.81 during trading on Wednesday, hitting $20.64. 28,838,164 shares of the company traded hands, compared to its average volume of 22,191,361. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The stock’s 50-day simple moving average is $23.25 and its 200 day simple moving average is $20.16. The company has a market cap of $7.25 billion, a PE ratio of 258.03 and a beta of -0.17. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83.

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

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Cheng acquired 4,140 shares of GameStop stock in a transaction dated Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,183 shares of company stock worth $81,001. 12.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaMark Advisors LLC increased its holdings in shares of GameStop by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares during the period. Centerpoint Advisors LLC acquired a new stake in shares of GameStop during the second quarter worth approximately $47,000. GAMMA Investing LLC lifted its holdings in GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares during the last quarter. CWM LLC increased its stake in shares of GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after acquiring an additional 3,025 shares during the period. 29.21% of the stock is currently owned by hedge funds and other 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.