Wedbush Comments on GameStop’s FY2028 Earnings (NYSE:GME)

GameStop Corp. (NYSE:GME) – Investment analysts at Wedbush issued their FY2028 EPS estimates for shares of GameStop in a research report issued to clients and investors on Wednesday, March 26th. Wedbush analyst M. Pachter anticipates that the company will post earnings of $0.47 per share for the year. Wedbush currently has a “Underperform” rating and a $10.00 target price on the stock. The consensus estimate for GameStop’s current full-year earnings is $0.08 per share.

Separately, StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday.

GameStop Stock Down 1.5 %

Shares of GameStop stock opened at $21.77 on Thursday. The firm has a market capitalization of $9.72 billion, a P/E ratio of 120.92 and a beta of -0.29. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83. The company has a 50 day moving average price of $25.36 and a 200 day moving average price of $25.64.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 28.5% compared to the same quarter last year.

Institutional Investors Weigh In On GameStop

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after acquiring an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of GameStop in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in shares of GameStop in the fourth quarter valued at approximately $51,000. Bessemer Group Inc. lifted its position in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock worth $54,000 after buying an additional 691 shares in the last quarter. 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 buying an additional 682 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the company’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 transaction, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by company insiders.

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.