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

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

Separately, Wedbush lowered their price target on GameStop from $13.50 to $11.00 and set an underperform rating for the company in a report on Wednesday, June 12th.

GameStop Stock Up 2.0 %

GME stock opened at $26.08 on Wednesday. The company’s 50 day moving average price is $25.17 and its 200 day moving average price is $17.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 326.04 and a beta of -0.10.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The firm had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The firm’s quarterly revenue was down 28.7% on a year-over-year basis. On average, equities research analysts anticipate 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 13,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares of the company’s stock, valued at $515,995.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the sale, the general counsel now directly owns 50,837 shares of the company’s stock, valued at $515,995.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Cheng acquired 4,140 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was purchased at an average cost of $24.85 per share, with a total value of $102,879.00. Following the completion of the acquisition, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Insiders sold 24,647 shares of company stock valued at $300,183 over the last three months. 12.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GameStop

Several large investors have recently modified their holdings of GME. Vanguard Group Inc. lifted its holdings in shares of GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of GameStop by 12.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after purchasing an additional 289,947 shares during the period. Van ECK Associates Corp lifted its holdings in shares of GameStop by 11.1% during the first quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after purchasing an additional 147,655 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of GameStop by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after purchasing an additional 25,159 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after purchasing an additional 1,400 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

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.