GameStop (NYSE:GME) Rating Increased to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of GameStop (NYSE:GME – Free Report) from a hold rating to a buy rating in a research report report published on Sunday morning.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of GameStop in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Check Out Our Latest Stock Analysis on GameStop

GameStop Stock Up 0.3%

GameStop stock opened at $17.92 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. GameStop has a 1-year low of $17.79 and a 1-year high of $28.10. The company has a market cap of $8.04 billion, a PE ratio of 13.58 and a beta of 1.79. The stock’s 50 day moving average price is $20.52 and its 200 day moving average price is $22.28.

GameStop (NYSE:GME – Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The firm had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. GameStop’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 7,083 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,517.54. Following the sale, the general counsel owned 108,147 shares of the company’s stock, valued at approximately $2,420,329.86. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,562.30. Following the completion of the sale, the insider directly owned 115,125 shares in the company, valued at $2,576,497.50. This trade represents a 5.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,125 shares of company stock valued at $406,587. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GameStop

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after acquiring an additional 732 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after purchasing an additional 886 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of GameStop in the third quarter valued at approximately $39,000. Los Angeles Capital Management LLC acquired a new stake in shares of GameStop in the fourth quarter valued at approximately $39,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of GameStop by 805.6% during the 4th 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. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

About GameStop

(Get Free Report)

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.

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