Wedbush set a $9.00 price objective on GameStop (NYSE:GME) in a research report sent to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a buy rating on the stock.
Other equities analysts have also recently issued reports about the stock. Benchmark reaffirmed a sell rating and set a $5.00 price target (down from $9.00) on shares of GameStop in a research note on Wednesday, June 5th. ValuEngine raised shares of GameStop from a sell rating to a hold rating in a research note on Sunday, June 9th. Ascendiant Capital Markets cut shares of GameStop from a buy rating to a hold rating and set a $4.00 price target for the company. in a research note on Wednesday, June 5th. Bank of America set a $4.00 price target on shares of GameStop and gave the stock a sell rating in a research note on Wednesday, June 5th. Finally, Telsey Advisory Group decreased their price target on shares of GameStop from $11.00 to $10.00 and set a market perform rating for the company in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $9.20.
NYSE GME opened at $4.91 on Thursday. The business’s 50 day simple moving average is $5.94. GameStop has a 52-week low of $4.71 and a 52-week high of $17.27. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79. The company has a market cap of $502.14 million, a PE ratio of 2.19 and a beta of 0.37.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of GameStop in the 1st quarter valued at approximately $51,000. Investors Research Corp acquired a new stake in shares of GameStop in the 1st quarter valued at approximately $55,000. Handelsbanken Fonder AB acquired a new stake in shares of GameStop in the 2nd quarter valued at approximately $65,000. Everence Capital Management Inc. acquired a new stake in shares of GameStop in the 1st quarter valued at approximately $111,000. Finally, Magnus Financial Group LLC acquired a new stake in shares of GameStop in the 1st quarter valued at approximately $111,000. 98.68% of the stock is owned by institutional investors.
GameStop Company Profile
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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