GameStop (NYSE:GME) Given Underperform Rating at Wedbush

GameStop (NYSE:GME - Get Free Report)'s stock had its "underperform" rating reiterated by equities research analysts at Wedbush in a report issued on Monday, MarketBeat reports. They presently have a $10.00 price objective on the stock. Wedbush's price objective indicates a potential downside of 54.91% from the stock's current price. Wedbush also issued estimates for GameStop's FY2028 earnings at $0.47 EPS.

GameStop Stock Up 0.4 %

Shares of GameStop stock traded up $0.09 during trading on Monday, reaching $22.18. The company's stock had a trading volume of 28,767,831 shares, compared to its average volume of 19,935,235. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83. The firm's 50-day moving average is $25.48 and its two-hundred day moving average is $25.66. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 123.58 and a beta of -0.29.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data 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. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm earned $0.21 earnings per share. The company's revenue for the quarter was down 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that GameStop will post 0.08 EPS for the current year.

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Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their position. 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 company's stock in a transaction that occurred 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 transaction, the insider now directly owns 31,385 shares of the company's stock, valued at $975,131.95. The trade was 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.

Institutional Investors Weigh In On GameStop

A number of large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after buying an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of GameStop in the 4th quarter worth about $37,000. R Squared Ltd bought a new position in shares of GameStop in the 4th quarter worth about $51,000. Bessemer Group Inc. lifted its position in GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after acquiring an additional 691 shares during the period. Finally, UMB Bank n.a. boosted its stake in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after acquiring an additional 682 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.