GameStop (NYSE:GME) Receives Underperform Rating from Wedbush

Wedbush restated their underperform rating on shares of GameStop (NYSE:GME) in a research report report published on Monday morning, MarketBeat reports. Wedbush currently has a $10.00 target price on the stock.

GameStop Stock Up 11.7 %

Shares of GME stock opened at $28.38 on Monday. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83. The firm has a fifty day moving average of $25.59 and a 200-day moving average of $25.69. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 157.68 and a beta of -0.29.

GameStop (NYSE:GME) last released its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was down 28.5% on a year-over-year basis. On average, equities analysts expect that GameStop will post 0.08 EPS for the current year.

Insider Activity at GameStop

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after acquiring an additional 684 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of 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. lifted its stake in 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 during the last quarter. Finally, UMB Bank n.a. grew its holdings in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after purchasing an additional 682 shares during the period. 29.21% of the stock is currently 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.