GameStop (NYSE:GME) Downgraded to “Hold” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of GameStop (NYSE:GME – Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Read Our Latest Research Report on GameStop

GameStop Price Performance

Shares of NYSE GME opened at $18.20 on Friday. The firm’s 50-day moving average price is $20.87 and its 200-day moving average price is $22.54. GameStop has a 1-year low of $17.79 and a 1-year high of $28.10. The firm has a market capitalization of $8.17 billion, a P/E ratio of 13.79 and a beta of 1.79. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71.

GameStop (NYSE:GME – Get Free Report) last issued its earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The company had revenue of $835.30 million during the quarter, compared to the consensus estimate of $766.63 million. During the same period last year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 7,085 shares of GameStop stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total transaction of $158,562.30. Following the completion of the transaction, the insider directly owned 115,125 shares in the company, valued at $2,576,497.50. This trade represents a 5.80% 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. Also, General Counsel Mark Haymond Robinson sold 7,083 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,517.54. Following the sale, the general counsel directly owned 108,147 shares of the company’s stock, valued at approximately $2,420,329.86. The trade was a 6.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 18,125 shares of company stock worth $406,587. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC boosted its stake in GameStop by 0.5% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 92,197 shares of the company’s stock valued at $1,851,000 after purchasing an additional 463 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of GameStop by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 131,002 shares of the company’s stock worth $3,574,000 after purchasing an additional 578 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of GameStop by 4.5% in the fourth quarter. Panagora Asset Management Inc. now owns 13,692 shares of the company’s stock worth $275,000 after purchasing an additional 594 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of GameStop by 14.5% in the fourth quarter. UMB Bank n.a. now owns 4,694 shares of the company’s stock valued at $94,000 after purchasing an additional 595 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of GameStop by 9.4% in the second quarter. Rakuten Securities Inc. now owns 7,572 shares of the company’s stock valued at $185,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

About GameStop

(Get Free Report)

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

Read More