GameStop (NYSE:GME) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of GameStop (NYSE:GME – Get Rating) in a report released on Thursday. The firm issued a sell rating on the stock.

Separately, Wedbush lowered their price objective on GameStop from $6.00 to $5.30 and set an underperform rating for the company in a research note on Thursday, December 8th.

GameStop Stock Performance

Shares of NYSE:GME opened at $16.60 on Thursday. The stock has a fifty day simple moving average of $19.82 and a two-hundred day simple moving average of $22.99. GameStop has a 12-month low of $15.41 and a 12-month high of $49.85. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Covestor Ltd raised its stake in shares of GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of GameStop in the first quarter worth $50,000. Lazard Asset Management LLC purchased a new position in shares of GameStop in the second quarter worth $53,000. CoreCap Advisors LLC bought a new stake in shares of GameStop in the second quarter worth $59,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of GameStop in the second quarter worth $83,000. Hedge funds and other institutional investors own 25.57% of the company’s stock.

GameStop Company Profile

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.