GameStop (NYSE:GME) Rating Increased to Hold at StockNews.com

GameStop (NYSE:GME) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Wedbush restated an “underperform” rating and set a $6.00 price target on shares of GameStop in a research report on Thursday, November 30th.

GameStop Stock Down 4.9 %

Shares of NYSE:GME opened at $12.52 on Wednesday. GameStop has a 52-week low of $11.82 and a 52-week high of $27.65. The firm has a fifty day moving average of $14.26 and a 200 day moving average of $14.89. The firm has a market capitalization of $3.82 billion, a PE ratio of 626.31 and a beta of -0.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.94 and a current ratio of 1.65.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a net margin of 0.13% and a return on equity of 1.37%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. The business’s quarterly revenue was down 19.4% on a year-over-year basis. As a group, research analysts anticipate that GameStop will post 0.04 EPS for the current fiscal year.

Institutional Trading of GameStop

A number of institutional investors have recently modified their holdings of GME. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GameStop by 23.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock worth $382,000 after purchasing an additional 439 shares during the period. Citigroup Inc. boosted its holdings in shares of GameStop by 4.3% during the first quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock worth $3,136,000 after purchasing an additional 777 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of GameStop by 21.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock worth $390,000 after purchasing an additional 421 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of GameStop by 5.8% during the first quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock worth $5,759,000 after purchasing an additional 1,854 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of GameStop by 56.1% during the first quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock worth $2,108,000 after purchasing an additional 4,548 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

About GameStop

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.