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

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a report released on Monday.

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

GameStop Stock Up 7.9 %

Shares of NYSE GME opened at $21.48 on Monday. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83. The business’s 50 day moving average is $23.48 and its two-hundred day moving average is $19.56. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 268.50 and a beta of -0.09. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at GameStop

In related news, Director Lawrence Cheng purchased 4,140 shares of the business’s stock in a transaction on Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the acquisition, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Lawrence Cheng purchased 4,140 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the sale, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,183 shares of company stock valued at $81,001. 12.28% of the stock is currently owned by company insiders.

Institutional Trading of GameStop

Institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in shares of GameStop by 27.1% during the 4th quarter. Handelsbanken Fonder AB now owns 62,300 shares of the company’s stock worth $1,092,000 after acquiring an additional 13,300 shares in the last quarter. Headlands Technologies LLC purchased a new position in GameStop in the fourth quarter valued at approximately $55,000. Retirement Systems of Alabama raised its holdings in GameStop by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 336,422 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,567 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of GameStop by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 1,331,536 shares of the company’s stock worth $23,342,000 after buying an additional 100,084 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of GameStop by 19.3% in the 4th quarter. Victory Capital Management Inc. now owns 56,999 shares of the company’s stock valued at $999,000 after buying an additional 9,210 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.