GameStop (NYSE:GME) Upgraded at StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a research report sent to investors on Wednesday morning.

Separately, Wedbush lowered their price target on shares of GameStop from $11.00 to $10.00 and set an underperform rating for the company in a report on Wednesday, September 11th.

GameStop Stock Performance

GameStop stock opened at $22.50 on Wednesday. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83. The stock has a market capitalization of $7.90 billion, a P/E ratio of 281.25 and a beta of -0.17. The stock has a fifty day moving average of $22.21 and a 200-day moving average of $20.61.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The firm had revenue of $798.30 million during the quarter, compared to the consensus estimate of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, research analysts forecast that GameStop will post 0.01 earnings per share for the current year.

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng acquired 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the acquisition, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after buying an additional 167,145 shares during the period. Van ECK Associates Corp increased its position in GameStop by 14.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after purchasing an additional 209,861 shares during the period. Renaissance Technologies LLC raised its holdings in GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after purchasing an additional 342,178 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of GameStop by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after purchasing an additional 25,159 shares during the period. Finally, Swiss National Bank boosted its stake in shares of GameStop by 0.3% in the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after purchasing an additional 1,400 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.