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 report issued to clients and investors on Wednesday.

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

GameStop Trading Down 4.9 %

Shares of GME stock opened at $12.52 on Wednesday. The stock’s fifty day moving average price is $14.26 and its two-hundred day moving average price is $14.89. The company has a market cap of $3.82 billion, a PE ratio of 626.31 and a beta of -0.42. GameStop has a fifty-two week low of $11.82 and a fifty-two week high of $27.65. 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 issued its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.37%. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. Equities analysts predict that GameStop will post 0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On GameStop

Several hedge funds have recently modified their holdings of GME. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GameStop by 23.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock valued at $382,000 after acquiring an additional 439 shares in the last quarter. Citigroup Inc. raised its position in GameStop by 4.3% during the 1st 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 last quarter. PNC Financial Services Group Inc. raised its position in GameStop by 21.8% during the 1st 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 last quarter. Great West Life Assurance Co. Can raised its position in GameStop by 5.8% during the 1st 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 last quarter. Finally, Dimensional Fund Advisors LP raised its position in GameStop by 56.1% during the 1st 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 last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.