GameStop (NYSE:GME) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GME) from a sell rating to a hold rating in a research report released on Thursday morning.

Separately, Wedbush reissued an “underperform” rating and set a $10.00 target price on shares of GameStop in a research note on Monday.

GameStop Stock Down 22.8 %

Shares of GME stock opened at $21.89 on Thursday. The business has a 50 day moving average of $25.48 and a two-hundred day moving average of $25.66. The company has a market cap of $9.78 billion, a P/E ratio of 121.64 and a beta of -0.29. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Analysts expect that GameStop will post 0.08 EPS for the current fiscal year.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 1,577 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 $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after purchasing an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in GameStop during the fourth quarter worth approximately $37,000. R Squared Ltd acquired a new position in GameStop in the fourth quarter worth approximately $51,000. Bessemer Group Inc. increased its holdings in shares of GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after buying an additional 691 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of GameStop by 59.9% during the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after acquiring an additional 682 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

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.