Stonex Financia Initiates Coverage on GameStop (NYSE:GME)

Analysts at Stonex Financia assumed coverage on shares of GameStop (NYSE:GME) in a research note issued to investors on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings raised GameStop from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Zacks Research raised GameStop to a “hold” rating in a research note on Friday, October 16th. Yorkville Ives began coverage on GameStop in a report on Wednesday, October 7th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Wall Street Zen lowered GameStop from a “buy” rating to a “hold” rating in a research report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

GameStop Stock Up 0.8%

Shares of NYSE GME opened at $24.38 on Monday. The company has a current ratio of 8.72, a quick ratio of 8.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $12.30 billion, a PE ratio of 18.61 and a beta of 1.65. The firm’s 50-day moving average is $23.16 and its 200-day moving average is $22.68. GameStop has a 1 year low of $17.79 and a 1 year high of $28.30.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $790.20 million for the quarter, compared to analysts’ expectations of $756.85 million. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Equities analysts expect that GameStop will post 1.09 EPS for the current year.

Insider Activity at GameStop

In other news, Director Alain Attal purchased 17,500 shares of GameStop stock in a transaction dated Monday, September 21st. The shares were bought at an average cost of $22.97 per share, with a total value of $401,975.00. Following the completion of the transaction, the director directly owned 618,964 shares in the company, valued at $14,217,603.08. This trade represents a 2.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nat Turner purchased 10,462 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was purchased at an average cost of $24.33 per share, with a total value of $254,540.46. Following the acquisition, the director directly owned 10,462 shares in the company, valued at $254,540.46. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 4,232,772 shares of company stock valued at $98,994,742 and sold 33,955 shares valued at $870,667. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On GameStop

Institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its position in shares of GameStop by 805.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after purchasing an additional 2,014 shares during the period. Jupiter Topco LLC acquired a new stake in GameStop during the 2nd quarter worth approximately $51,000. Global Assets Advisory LLC bought a new position in GameStop in the first quarter valued at approximately $60,000. CX Institutional lifted its stake in GameStop by 537.1% in the second quarter. CX Institutional now owns 3,313 shares of the company’s stock valued at $73,000 after buying an additional 2,793 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in GameStop in the third quarter valued at approximately $87,000. Institutional investors own 29.21% of the company’s stock.

About GameStop

GameStop Corp. is a specialty retailer focused on video games, gaming hardware, accessories, and related entertainment products. Its merchandise includes new and pre-owned video game consoles and software, controllers, headsets, collectibles, toys, apparel, and trading cards. The company sells through its retail stores and e-commerce channels and also offers trade-in services for eligible games, devices, and accessories.

GameStop serves customers primarily in the United States, Canada, and Australia, with its physical-store network complemented by online sales.