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

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a research note published on Wednesday morning.

Separately, Wedbush lowered their target price on shares of GameStop from $11.00 to $10.00 and set an underperform rating for the company in a report on Wednesday, September 11th.

GameStop Price Performance

NYSE:GME opened at $22.48 on Wednesday. The firm has a market capitalization of $7.90 billion, a PE ratio of 281.00 and a beta of -0.17. The business’s fifty day moving average price is $22.16 and its 200 day moving average price is $20.67. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. As a group, equities analysts anticipate that GameStop will post 0.01 EPS for the current year.

Insider Activity

In other GameStop news, Director Lawrence Cheng bought 4,140 shares of the stock in a transaction dated Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the transaction, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

A number of hedge funds and other institutional investors have recently bought and sold shares of GME. United Services Automobile Association boosted its holdings in GameStop by 13.2% in the 4th quarter. United Services Automobile Association now owns 21,109 shares of the company’s stock valued at $370,000 after purchasing an additional 2,457 shares in the last quarter. Olympiad Research LP acquired a new position in GameStop during the fourth quarter worth $259,000. Treasurer of the State of North Carolina raised its position in GameStop by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock worth $2,082,000 after acquiring an additional 1,160 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in GameStop in the fourth quarter valued at $859,000. Finally, Coatue Management LLC purchased a new stake in shares of GameStop during the 4th quarter worth $1,315,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

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.