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

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

Separately, Wedbush reduced their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 12th.

GameStop Trading Down 6.3 %

NYSE:GME opened at $23.99 on Thursday. The business’s 50-day moving average is $21.17 and its two-hundred day moving average is $16.89. The firm has a market capitalization of $8.42 billion, a PE ratio of 299.81 and a beta of -0.27. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42.

GameStop (NYSE:GME) last announced its earnings results on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business’s quarterly revenue was down 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Research analysts predict that GameStop will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the sale, the general counsel now owns 64,308 shares in the company, valued at approximately $746,615.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Lawrence Cheng purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was acquired at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the purchase, the director now owns 65,088 shares in the company, valued at $730,287.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,636 shares of company stock valued at $346,474. 12.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GME. Headlands Technologies LLC bought a new position in GameStop during the fourth quarter worth $55,000. Russell Investments Group Ltd. increased its holdings in shares of GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after acquiring an additional 3,025 shares during the period. First United Bank & Trust bought a new stake in GameStop in the 4th quarter valued at about $70,000. Fifth Third Bancorp boosted its stake in GameStop by 50.6% during the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after purchasing an additional 1,445 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in GameStop during the 1st quarter valued at about $153,000. Institutional investors and hedge funds 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.