GameStop (NYSE:GME) Upgraded at StockNews.com

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

Separately, Wedbush decreased their price target on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 11th.

GameStop Price Performance

GameStop stock opened at $20.93 on Friday. The firm has a market capitalization of $7.35 billion, a P/E ratio of 261.56 and a beta of -0.19. The stock has a fifty day moving average price of $21.69 and a two-hundred day moving average price of $21.73. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83.

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

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the transaction, the insider now directly owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. 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 accessible through this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the sale, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. The trade was a 0.00 % decrease in their ownership of the stock. 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 in the last 90 days. 12.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its stake in shares of 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 during the last quarter. AlphaMark Advisors LLC lifted its stake in shares of GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares during the period. Centerpoint Advisors LLC acquired a new position in shares of GameStop in the 2nd quarter valued at $47,000. GAMMA Investing LLC boosted its position in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of GameStop by 147.2% during the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after purchasing an additional 3,025 shares during the period. Institutional investors own 29.21% of the company’s stock.

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.