GameStop (NYSE:GME) Now Covered by Analysts at Stonex Financia

Stock analysts at Stonex Financia assumed coverage on shares of GameStop (NYSE:GME) in a research report issued to clients and investors on Monday, Zacks reports. The firm set a “strong-buy” rating on the stock.

Several other brokerages have also issued reports on GME. Yorkville Ives started coverage on shares of GameStop in a report on Wednesday, October 7th. They issued an “outperform” rating and a $32.00 price target on the stock. Weiss Ratings raised shares of GameStop from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Wall Street Zen lowered shares of GameStop from a “buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Zacks Research raised shares of GameStop to a “hold” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, GameStop currently has an average rating of “Moderate Buy” and an average target price of $32.00.

GameStop Price Performance

Shares of GME stock opened at $24.38 on Monday. GameStop has a 12 month low of $17.79 and a 12 month high of $28.30. The company has a market capitalization of $12.30 billion, a P/E ratio of 18.61 and a beta of 1.65. The stock has a 50 day moving average of $23.16 and a two-hundred day moving average of $22.68. The company has a current ratio of 8.72, a quick ratio of 8.07 and a debt-to-equity ratio of 0.68.

GameStop (NYSE:GME) last released 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 business had revenue of $790.20 million for the quarter, compared to analysts’ expectations of $756.85 million. GameStop had a return on equity of 13.57% and a net margin of 25.16%. GameStop’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts expect that GameStop will post 1.09 EPS for the current year.

Insider Buying and Selling

In other news, Director Nat Turner purchased 10,462 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $254,540.46. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ryan Cohen acquired 844,130 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were purchased at an average cost of $26.98 per share, with a total value of $22,774,627.40. Following the acquisition, the chief executive officer owned 42,492,652 shares of the company’s stock, valued at approximately $1,146,451,750.96. This represents a 2.03% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 4,232,772 shares of company stock worth $98,994,742 and have sold 33,955 shares worth $870,667. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

A number of hedge funds and other institutional investors have recently bought and sold shares of GME. Rockefeller Capital Management L.P. boosted its stake in GameStop by 805.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock worth $45,000 after purchasing an additional 2,014 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of GameStop in the second quarter valued at $51,000. Global Assets Advisory LLC acquired a new stake in shares of GameStop in the first quarter valued at $60,000. CX Institutional raised its holdings in shares of 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of GameStop in the third quarter valued at about $87,000. 29.21% of the stock is owned by institutional investors and hedge funds.

GameStop Company Profile

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.