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

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

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

GameStop Trading Down 1.5 %

NYSE:GME opened at $21.77 on Thursday. The company has a 50-day moving average of $25.36 and a 200-day moving average of $25.64. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 120.92 and a beta of -0.29. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was down 28.5% compared to the same quarter last year. On average, research analysts forecast that GameStop will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In related news, insider Daniel William Moore sold 895 shares of the firm’s 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’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 transaction of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its position in shares of 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 buying an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. increased its stake in shares of GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock valued at $853,000 after buying an additional 518 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after buying an additional 520 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of GameStop by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock valued at $575,000 after buying an additional 523 shares during the period. Finally, Securian Asset Management Inc. raised its position in shares of GameStop by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock worth $963,000 after acquiring an additional 557 shares during the last quarter. 29.21% of the stock is currently owned by 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.