GameStop (NYSE:GME) Upgraded at StockNews.com

GameStop (NYSE:GME) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Wedbush cut their price objective 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 Stock Down 0.9 %

Shares of NYSE:GME opened at $21.22 on Friday. The company’s fifty day moving average is $21.74 and its 200 day moving average is $21.59. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83. The stock has a market cap of $7.45 billion, a PE ratio of 265.25 and a beta of -0.19.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 earnings per share 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 return on equity of 1.79% and a net margin of 0.93%. The business’s revenue was down 31.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Sell-side analysts anticipate that GameStop will post 0.01 EPS for the current year.

Insider Transactions at GameStop

In related news, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total transaction of $55,104.00. Following the transaction, the insider now owns 32,280 shares in the company, valued at $677,880. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $21.00, for a total transaction of $55,104.00. Following the sale, the insider now directly owns 32,280 shares in the company, valued at $677,880. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,639 shares of company stock valued at $481,000. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC grew 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 worth $33,000 after buying an additional 396 shares during the last quarter. GAMMA Investing LLC boosted its holdings in GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares in the last quarter. CWM LLC grew its stake in shares of GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after acquiring an additional 529 shares during the last quarter. UMB Bank n.a. increased its holdings 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 valued at $26,000 after acquiring an additional 959 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of GameStop by 0.3% in the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after purchasing an additional 1,400 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.