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

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

Separately, Wedbush cut their target price on GameStop from $13.50 to $11.00 and set an underperform rating on the stock in a research note on Wednesday, June 12th.

GameStop Stock Performance

NYSE GME opened at $21.27 on Friday. The company has a fifty day moving average of $25.43 and a 200-day moving average of $18.69. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The company has a market capitalization of $7.47 billion, a P/E ratio of 265.88 and a beta of -0.09.

GameStop (NYSE:GME) last posted its quarterly 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 business had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company’s revenue was down 28.7% compared to the same quarter last year. During the same period last year, the business posted ($0.14) earnings per share. As a group, equities research analysts predict 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 2,215 shares of GameStop stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the sale, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence Cheng bought 4,140 shares of the company’s stock in a transaction on Monday, July 8th. The stock was bought at an average cost of $24.85 per share, for a total transaction 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 have sold 3,183 shares of company stock worth $81,001 over the last 90 days. 12.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position 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 valued at $45,693,000 after acquiring an additional 289,947 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of GameStop by 14.2% in the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock worth $41,702,000 after purchasing an additional 209,861 shares during the last quarter. 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 valued at $446,143,000 after purchasing an additional 167,145 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of GameStop by 527.0% during the fourth quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company’s stock valued at $2,576,000 after buying an additional 123,516 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in GameStop by 659.6% in the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock worth $1,749,000 after buying an additional 121,328 shares in 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.