GameStop (NYSE:GME) Raised to “Hold” at Wall Street Zen

GameStop (NYSE:GME) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings upgraded shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $13.50.

GameStop Stock Down 2.2%

Shares of GameStop stock opened at $21.79 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 14.68 and a current ratio of 15.30. GameStop has a 52-week low of $19.93 and a 52-week high of $30.60. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 16.51 and a beta of 1.77. The company’s 50 day moving average price is $23.16 and its 200-day moving average price is $22.83.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. The firm had revenue of $835.30 million for the quarter, compared to analysts’ expectations of $766.64 million. GameStop had a net margin of 20.45% and a return on equity of 14.10%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share.

Insider Buying and Selling at GameStop

In related news, insider Daniel William Moore sold 7,210 shares of GameStop stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,397.40. Following the sale, the insider owned 101,014 shares in the company, valued at $2,317,261.16. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 3,912 shares of GameStop stock in a transaction on Monday, April 13th. The shares were sold at an average price of $23.19, for a total transaction of $90,719.28. Following the completion of the sale, the general counsel owned 115,230 shares in the company, valued at approximately $2,672,183.70. This trade represents a 3.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 18,331 shares of company stock worth $421,491. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in GameStop by 308.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after buying an additional 732 shares during the period. EverSource Wealth Advisors LLC lifted its position in GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after buying an additional 886 shares during the period. Advisory Services Network LLC purchased a new position in GameStop during the third quarter valued at $39,000. Bessemer Group Inc. lifted its position in GameStop by 39.2% during the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock valued at $46,000 after buying an additional 471 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in GameStop during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.