GameStop (NYSE:GME) Upgraded at StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a report issued on Saturday.

Separately, Wedbush reduced their target price on shares of GameStop from $13.50 to $11.00 and set an underperform rating for the company in a research report on Wednesday, June 12th.

GameStop Stock Down 1.9 %

GME stock opened at $20.67 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $7.26 billion, a PE ratio of 258.34 and a beta of -0.09. The stock’s 50 day moving average is $25.40 and its 200-day moving average is $18.65. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last announced its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The business had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. During the same quarter in the previous year, the firm earned ($0.14) EPS. GameStop’s quarterly revenue was down 28.7% on a year-over-year basis. Sell-side analysts expect that GameStop will post 0.08 EPS for the current fiscal year.

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the transaction, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lawrence Cheng bought 4,140 shares of the stock in a transaction on Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the purchase, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the transaction, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold 3,183 shares of company stock valued at $81,001 in the last 90 days. Insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Large investors have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC grew its holdings in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares in the last quarter. Centerpoint Advisors LLC bought a new position in shares of GameStop in the 2nd quarter worth $47,000. GAMMA Investing LLC lifted its holdings in shares of GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of GameStop during the 4th quarter worth $55,000. Finally, Russell Investments Group Ltd. increased its stake in GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after acquiring an additional 3,025 shares during the last quarter. 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.