Wall Street Zen Upgrades GameStop (NYSE:GME) to Buy

GameStop (NYSE:GME) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Separately, Weiss Ratings raised shares of GameStop from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

GameStop Stock Performance

GME stock opened at $21.75 on Friday. The company has a quick ratio of 14.68, a current ratio of 15.30 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 16.47 and a beta of 1.77. GameStop has a 12 month low of $19.93 and a 12 month high of $28.10. The firm has a 50 day moving average of $23.13 and a two-hundred day moving average of $22.90.

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

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 7,210 shares of GameStop stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 3,912 shares of GameStop stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $23.19, for a total transaction of $90,719.28. Following the transaction, the general counsel directly owned 115,230 shares in the company, valued at $2,672,183.70. The trade was 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 have sold 18,331 shares of company stock valued at $421,491. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GME. Militia Capital Management LLC acquired a new stake in GameStop during the 1st quarter worth approximately $492,000. Bank of America Corp DE raised its holdings in GameStop by 15.4% during the 1st quarter. Bank of America Corp DE now owns 315,690 shares of the company’s stock worth $7,273,000 after buying an additional 42,091 shares during the period. Kentucky Retirement Systems bought a new position in shares of GameStop during the 1st quarter worth approximately $222,000. California State Teachers Retirement System grew its stake in shares of GameStop by 22.5% in the first quarter. California State Teachers Retirement System now owns 493,286 shares of the company’s stock valued at $11,365,000 after buying an additional 90,474 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in GameStop by 377.8% during the first quarter. Quantinno Capital Management LP now owns 138,846 shares of the company’s stock worth $3,199,000 after purchasing an additional 109,788 shares during the period. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

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.