GameStop’s (GME) “Underperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their underperform rating on shares of GameStop (NYSE:GME) in a research note issued to investors on Monday morning,RTT News reports. They currently have a $10.00 target price on the stock.

GameStop Trading Up 3.2 %

Shares of GameStop stock opened at $25.55 on Monday. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83. The stock has a 50 day moving average of $25.63 and a 200 day moving average of $25.66. The firm has a market cap of $11.41 billion, a PE ratio of 141.92 and a beta of -0.29.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 895 shares of the firm’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 completion of the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop 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 $48,997.39. Following the completion of the transaction, the general counsel now 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 position. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by insiders.

Institutional Trading of GameStop

Several hedge funds and other institutional investors have recently bought and sold shares of GME. CIBC Asset Management Inc increased its position in GameStop by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock valued at $294,000 after acquiring an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. boosted its stake in shares of GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock worth $853,000 after purchasing an additional 518 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after purchasing an additional 520 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in GameStop by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock worth $575,000 after purchasing an additional 523 shares during the period. Finally, Securian Asset Management Inc. raised its position in GameStop by 1.8% in the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock worth $963,000 after purchasing an additional 557 shares during the period. Hedge funds and other 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.