Several other research firms also recently issued reports on GME. Wedbush set a $9.00 price target on GameStop and gave the company a buy rating in a research note on Thursday, July 11th. Loop Capital set a $7.00 price objective on GameStop and gave the company a hold rating in a report on Monday, July 15th. Benchmark reaffirmed a sell rating and issued a $5.00 price objective (down from $9.00) on shares of GameStop in a report on Wednesday, June 5th. Ascendiant Capital Markets cut GameStop from a buy rating to a hold rating and set a $4.00 price objective for the company. in a report on Wednesday, June 5th. Finally, ValuEngine raised GameStop from a sell rating to a hold rating in a report on Sunday, June 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $8.95.
GME opened at $3.87 on Tuesday. The business has a fifty day simple moving average of $4.15 and a 200 day simple moving average of $7.80. The company has a market capitalization of $349.76 million, a PE ratio of 1.53 and a beta of 0.38. GameStop has a 1 year low of $3.15 and a 1 year high of $17.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.48 and a quick ratio of 0.59.
GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.64 billion. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that GameStop will post 1.5 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Magnetar Financial LLC acquired a new position in GameStop in the 2nd quarter valued at $223,000. United Services Automobile Association raised its holdings in GameStop by 12.4% in the 2nd quarter. United Services Automobile Association now owns 36,164 shares of the company’s stock valued at $198,000 after acquiring an additional 4,003 shares in the last quarter. Factorial Partners LLC raised its holdings in GameStop by 17.8% in the 2nd quarter. Factorial Partners LLC now owns 53,000 shares of the company’s stock valued at $290,000 after acquiring an additional 8,000 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in GameStop by 168.5% in the 2nd quarter. Voloridge Investment Management LLC now owns 424,081 shares of the company’s stock valued at $2,320,000 after acquiring an additional 266,155 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in GameStop in the 2nd quarter valued at $2,642,000. 98.68% of the stock is owned by hedge funds and other institutional investors.
GameStop Company Profile
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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