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

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

Separately, Wedbush reduced their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 11th.

GameStop Stock Up 0.5 %

NYSE GME opened at $22.28 on Wednesday. The stock has a market cap of $7.83 billion, a P/E ratio of 278.50 and a beta of -0.17. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83. The company’s 50-day simple moving average is $22.28 and its 200 day simple moving average is $20.60.

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 analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. GameStop’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. Research analysts anticipate that GameStop will post 0.01 earnings per share for the current year.

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng bought 4,140 shares of GameStop stock in a transaction dated Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, with a total value of $102,879.00. Following the acquisition, the director now directly owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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 business. United Services Automobile Association grew its holdings in shares of GameStop by 13.2% during the fourth quarter. United Services Automobile Association now owns 21,109 shares of the company’s stock worth $370,000 after purchasing an additional 2,457 shares during the last quarter. Olympiad Research LP bought a new stake in GameStop during the 4th quarter worth about $259,000. Treasurer of the State of North Carolina increased its position in GameStop by 1.0% in 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 acquiring an additional 1,160 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of GameStop in the fourth quarter worth about $859,000. Finally, Coatue Management LLC acquired a new position in shares of GameStop during the fourth quarter worth approximately $1,315,000. 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.