GameStop (NYSE:GME) Earns Underperform Rating from Wedbush

GameStop (NYSE:GME)‘s stock had its “underperform” rating reiterated by stock analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They currently have a $10.00 target price on the stock. Wedbush’s price target points to a potential downside of 61.07% from the stock’s previous close.

GameStop Stock Performance

Shares of NYSE:GME traded up $0.94 on Monday, reaching $25.69. The company’s stock had a trading volume of 2,241,708 shares, compared to its average volume of 19,385,228. GameStop has a 52-week low of $9.95 and a 52-week high of $64.83. The company has a market cap of $11.48 billion, a P/E ratio of 142.73 and a beta of -0.29. The company has a 50-day simple moving average of $25.75 and a 200 day simple moving average of $25.64.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GameStop

Several large investors have recently added to or reduced their stakes in GME. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after buying an additional 684 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in GameStop in the 4th quarter valued at about $37,000. R Squared Ltd bought a new stake in shares of GameStop in the 4th quarter valued at about $51,000. Bessemer Group Inc. raised its holdings in shares of GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after purchasing an additional 682 shares in the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

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.