StockNews.com Upgrades GameStop (NYSE:GME) to Hold

GameStop (NYSE:GME - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Thursday.

Separately, Wedbush reiterated an "underperform" rating and set a $10.00 price target on shares of GameStop in a research report on Monday, March 24th.

GameStop Stock Down 1.5 %

GameStop stock traded down $0.33 during mid-day trading on Thursday, hitting $21.77. 44,685,450 shares of the company's stock traded hands, compared to its average volume of 20,039,283. GameStop has a one year low of $9.95 and a one year high of $64.83. The company has a market cap of $9.72 billion, a PE ratio of 120.92 and a beta of -0.29. The firm has a 50 day moving average price of $25.36 and a 200 day moving average price of $25.66.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. GameStop's revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, analysts expect that GameStop will post 0.08 earnings per share for the current fiscal year.

Remove Ads

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction 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 sale, the general counsel now directly owns 42,350 shares of the company's stock, valued at $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company's stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On GameStop

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