GameStop (NYSE:GME) Stock Rating Upgraded by StockNews.com

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

Separately, Wedbush restated an “underperform” rating and set a $10.00 target price on shares of GameStop in a research note on Monday.

GameStop Stock Down 22.8 %

GME traded down $6.47 during midday trading on Thursday, reaching $21.89. The company had a trading volume of 96,110,016 shares, compared to its average volume of 19,853,982. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The company has a market cap of $9.78 billion, a P/E ratio of 121.64 and a beta of -0.29. The business has a 50-day moving average of $25.48 and a two-hundred day moving average of $25.66.

GameStop (NYSE:GME) last released its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. On average, equities research analysts predict that GameStop will post 0.08 EPS for the current year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now directly owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in GameStop by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 394,588 shares of the company’s stock valued at $12,366,000 after purchasing an additional 13,576 shares during the last quarter. United Advisor Group LLC raised its position in shares of GameStop by 216.8% during the 4th quarter. United Advisor Group LLC now owns 42,740 shares of the company’s stock valued at $1,339,000 after buying an additional 29,250 shares in the last quarter. Forum Financial Management LP bought a new position in shares of GameStop in the 4th quarter valued at about $206,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GameStop by 42.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,036,589 shares of the company’s stock worth $32,487,000 after acquiring an additional 307,903 shares in the last quarter. Finally, Vident Advisory LLC increased its stake in GameStop by 12.1% during the fourth quarter. Vident Advisory LLC now owns 31,384 shares of the company’s stock worth $984,000 after acquiring an additional 3,387 shares during the last quarter. 29.21% of the stock is 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.