GameStop (NYSE:GME) Upgraded at StockNews.com

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

Separately, Wedbush reduced their price target on shares of GameStop from $11.00 to $10.00 and set an underperform rating for the company in a report on Wednesday.

GameStop Stock Up 1.2 %

GME opened at $20.65 on Wednesday. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83. The company has a fifty day moving average of $23.10 and a 200-day moving average of $20.25. The stock has a market cap of $8.81 billion, a PE ratio of 258.16 and a beta of -0.17.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. Sell-side analysts anticipate that GameStop will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, Director Lawrence Cheng acquired 4,140 shares of the company’s stock in a transaction on Monday, July 8th. The shares were purchased at an average cost of $24.85 per share, with a total value of $102,879.00. Following the completion of the purchase, the director now owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its stake in shares of GameStop by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock valued at $2,943,000 after buying an additional 3,459 shares in the last quarter. Coatue Management LLC bought a new position in shares of GameStop during the fourth quarter valued at about $1,315,000. State of Michigan Retirement System lifted its position in shares of GameStop by 2.5% during the first quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock valued at $826,000 after purchasing an additional 1,600 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of GameStop by 2.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock valued at $2,438,000 after purchasing an additional 5,411 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of GameStop by 7.0% during the first quarter. BNP Paribas Financial Markets now owns 157,242 shares of the company’s stock valued at $1,969,000 after purchasing an additional 10,289 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

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.