GameStop (NYSE:GME) Given New $5.60 Price Target at Wedbush

GameStop (NYSE:GME) had its price objective trimmed by Wedbush from $6.00 to $5.60 in a research report released on Wednesday morning, Marketbeat.com reports. The firm currently has an underperform rating on the stock.

Separately, StockNews.com upgraded shares of GameStop from a sell rating to a hold rating in a report on Wednesday.

GameStop Price Performance

Shares of GME opened at $13.17 on Wednesday. The stock has a market cap of $4.02 billion, a PE ratio of -438.69 and a beta of -0.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.94 and a current ratio of 1.65. GameStop has a fifty-two week low of $11.82 and a fifty-two week high of $27.65. The firm’s 50-day simple moving average is $14.30 and its two-hundred day simple moving average is $14.91.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). GameStop had a negative net margin of 0.14% and a negative return on equity of 0.11%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The company’s quarterly revenue was down 19.4% compared to the same quarter last year. Analysts anticipate that GameStop will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd raised its position in GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after acquiring an additional 181 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of GameStop during the 1st quarter valued at $50,000. Comerica Bank bought a new stake in shares of GameStop during the 2nd quarter valued at $150,000. Captrust Financial Advisors raised its position in shares of GameStop by 457.1% during the 1st quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock valued at $175,000 after purchasing an additional 864 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of GameStop during the 2nd quarter valued at $36,000. 29.21% of the stock is currently 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.