GameStop (NYSE:GME) Upgraded by StockNews.com to "Sell"

GameStop (NYSE:GME - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a research note issued on Tuesday.

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

GameStop Stock Performance

NYSE:GME traded up $0.29 during trading hours on Tuesday, reaching $25.51. The stock had a trading volume of 7,855,609 shares, compared to its average volume of 25,654,703. 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 quick ratio of 1.42 and a current ratio of 2.22. The stock has a 50 day simple moving average of $25.60 and a 200 day simple moving average of $18.19. The stock has a market cap of $8.96 billion, a P/E ratio of 318.88 and a beta of -0.10.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Friday, June 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $881.80 million during the quarter, compared to the consensus estimate of $995.30 million. During the same period last year, the business posted ($0.14) earnings per share. The firm's quarterly revenue was down 28.7% on a year-over-year basis. On average, research analysts forecast that GameStop will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

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 shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the sale, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop 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 directly owns 48,408 shares of the company's stock, valued at $1,274,582.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, the insider now directly owns 13,606 shares of the company's stock, valued at approximately $138,781.20. The disclosure for this sale can be found here. Insiders have sold 11,176 shares of company stock worth $163,452 over the last 90 days. Corporate insiders own 12.28% of the company's stock.

Institutional Investors Weigh In On GameStop

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of GameStop by 1.4% during the third quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company's stock valued at $416,160,000 after buying an additional 345,488 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of GameStop by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company's stock worth $45,693,000 after acquiring an additional 289,947 shares during the period. Van ECK Associates Corp raised its position in shares of GameStop by 11.1% in the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company's stock worth $18,519,000 after acquiring an additional 147,655 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of GameStop by 527.0% in the 4th quarter. BNP Paribas Financial Markets now owns 146,953 shares of the company's stock valued at $2,576,000 after purchasing an additional 123,516 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of GameStop by 659.6% during the first quarter. Tidal Investments LLC now owns 139,723 shares of the company's stock valued at $1,749,000 after purchasing an additional 121,328 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

About GameStop

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.

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