StockNews.com Upgrades GameStop (NYSE:GME) to “Sell”

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

Separately, Wedbush lowered their price target on shares of GameStop from $13.50 to $11.00 and set an underperform rating on the stock in a research report on Wednesday, June 12th.

GameStop Trading Up 0.8 %

Shares of GameStop stock opened at $24.14 on Tuesday. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.48 billion, a PE ratio of 301.79 and a beta of -0.10. The company has a 50-day moving average of $25.25 and a two-hundred day moving average of $18.33.

GameStop (NYSE:GME) last issued its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. During the same period last year, the business posted ($0.14) earnings per share. The company’s quarterly revenue was down 28.7% on a year-over-year basis. On average, research analysts anticipate that GameStop will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the sale, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Cheng bought 4,140 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Insiders have sold 3,397 shares of company stock worth $84,106 over the last ninety days. 12.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GameStop

A number of hedge funds have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC acquired a new position in shares of GameStop in the 2nd quarter valued at $197,000. Nisa Investment Advisors LLC boosted its holdings in shares of GameStop by 697.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 32,185 shares of the company’s stock valued at $795,000 after purchasing an additional 28,150 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of GameStop by 38.9% in the 2nd quarter. SG Americas Securities LLC now owns 12,907 shares of the company’s stock valued at $319,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Simplicity Wealth LLC acquired a new position in shares of GameStop in the 2nd quarter valued at $553,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.