GameStop (NYSE:GME) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of GameStop (NYSE:GME) to a sell rating in a research report released on Wednesday morning.

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

GameStop Price Performance

GME opened at $24.98 on Wednesday. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 312.16 and a beta of -0.10. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $24.44 and a 200 day moving average price of $17.56.

GameStop (NYSE:GME) last announced its quarterly 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 company had revenue of $881.80 million during the quarter, compared to analyst estimates of $995.30 million. During the same period in the prior year, the firm earned ($0.14) EPS. GameStop’s quarterly revenue was down 28.7% on a year-over-year basis. Analysts forecast that GameStop will post 0.08 EPS for the current fiscal year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares in the company, valued at approximately $515,995.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Lawrence Cheng purchased 4,140 shares of the business’s stock in a transaction on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, with a total value of $102,879.00. Following the acquisition, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares of the company’s stock, valued at approximately $515,995.55. The disclosure for this sale can be found here. Insiders sold a total of 24,647 shares of company stock worth $300,183 in the last 90 days. 12.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On GameStop

Several large investors have recently added to or reduced their stakes in GME. GAMMA Investing LLC raised its holdings in GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after acquiring an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of GameStop in the 4th quarter worth approximately $55,000. Russell Investments Group Ltd. raised its holdings in shares of GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after buying an additional 3,025 shares in the last quarter. CWM LLC raised its holdings in shares of GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after buying an additional 1,426 shares in the last quarter. Finally, First United Bank & Trust acquired a new position in shares of GameStop in the 4th quarter worth approximately $70,000. Institutional investors and hedge funds 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.