GameStop (NYSE:GME) Given New $10.00 Price Target at Wedbush

GameStop (NYSE:GME) had its price objective reduced by research analysts at Wedbush from $11.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Wedbush’s target price suggests a potential downside of 57.38% from the stock’s current price. Wedbush also issued estimates for GameStop’s FY2027 earnings at $0.04 EPS.

Separately, StockNews.com raised shares of GameStop to a “sell” rating in a report on Monday, August 26th.

GameStop Trading Down 3.2 %

Shares of GME stock opened at $23.47 on Wednesday. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The firm has a fifty day moving average price of $23.32 and a 200-day moving average price of $20.16. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 293.35 and a beta of -0.17. 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 issued its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The business’s quarterly revenue was down 31.4% on a year-over-year basis. As a group, equities analysts predict that GameStop will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the transaction, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Cheng bought 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average price of $24.85 per share, with a total value of $102,879.00. Following the transaction, the director now 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 a total of 3,183 shares of company stock valued at $81,001 over the last ninety days. 12.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

Large investors have recently made changes to their positions in the company. AlphaMark Advisors LLC boosted its stake in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after buying an additional 396 shares during the last quarter. Centerpoint Advisors LLC bought a new position in shares of GameStop during the 2nd quarter valued at approximately $47,000. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. CWM LLC increased its position in GameStop by 115.6% in the second quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after purchasing an additional 1,426 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after purchasing an additional 3,025 shares during the last quarter. 29.21% of the stock is owned by 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.