GameStop (NYSE:GME) Upgraded at StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a research note issued to investors on Saturday.

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

GameStop Stock Down 0.9 %

Shares of GameStop stock opened at $21.22 on Friday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 265.25 and a beta of -0.19. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83. The company has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $21.52.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. On average, sell-side analysts anticipate that GameStop will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now directly owns 43,927 shares of the company’s stock, valued at $914,560.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Daniel William Moore sold 1,972 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the transaction, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the sale, the general counsel now directly owns 43,927 shares in the company, valued at $914,560.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its holdings in shares of GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after buying an additional 959 shares in the last quarter. AlphaMark Advisors LLC grew its position in GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after acquiring an additional 396 shares during the last quarter. Centerpoint Advisors LLC acquired a new position in GameStop in the 2nd quarter worth about $47,000. GAMMA Investing LLC raised its position in GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of GameStop by 147.2% during the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares in 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.