GameStop (NYSE:GME) Lifted to “Sell” at StockNews.com

GameStop (NYSE:GME) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Saturday.

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

GameStop Stock Performance

GME stock opened at $21.25 on Friday. The stock has a market cap of $7.46 billion, a P/E ratio of 265.63 and a beta of -0.19. The firm has a 50 day simple moving average of $21.74 and a 200 day simple moving average of $21.45. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The company’s revenue was down 31.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts predict that GameStop will post 0.01 EPS for the current year.

Insider Activity

In other news, insider Daniel William Moore sold 2,624 shares of GameStop stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the transaction, the insider now owns 32,280 shares of the company’s stock, valued at $677,880. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the transaction, the general counsel now owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $21.00, for a total transaction of $55,104.00. Following the transaction, the insider now directly owns 32,280 shares in the company, valued at $677,880. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock valued at $481,000 over the last 90 days. 12.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Selway Asset Management increased its position in GameStop by 10.9% during the third quarter. Selway Asset Management now owns 30,500 shares of the company’s stock worth $699,000 after acquiring an additional 3,000 shares during the period. UMB Bank n.a. boosted its stake in GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after buying an additional 959 shares in the last quarter. CWM LLC boosted its stake in GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after buying an additional 529 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in GameStop by 21.0% during the third quarter. Handelsbanken Fonder AB now owns 80,000 shares of the company’s stock worth $1,834,000 after buying an additional 13,900 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in GameStop during the second quarter worth $1,003,000. 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.