StockNews.com Upgrades GameStop (NYSE:GME) to “Hold”

GameStop (NYSE:GME) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Separately, Wedbush reaffirmed an “underperform” rating and set a $10.00 price target on shares of GameStop in a report on Monday, March 24th.

GameStop Trading Down 1.5 %

NYSE:GME opened at $21.77 on Thursday. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The stock has a 50-day moving average price of $25.36 and a two-hundred day moving average price of $25.64. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 120.92 and a beta of -0.29.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue was down 28.5% compared to the same quarter last year. Sell-side analysts forecast that GameStop will post 0.08 earnings per share for the current year.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction 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. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 shares of GameStop during the fourth quarter valued at approximately $37,000. R Squared Ltd purchased a new position in GameStop in the 4th quarter worth approximately $51,000. Bessemer Group Inc. lifted its position in GameStop by 67.2% in 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 in the last quarter. Finally, UMB Bank n.a. boosted its stake in 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 purchasing an additional 682 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other 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.