Analysts’ Recent Ratings Changes for GameStop (GME)

Posted by on Jun 12th, 2023

A number of firms have modified their ratings and price targets on shares of GameStop (NYSE: GME) recently:

  • 6/9/2023 – GameStop was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 6/8/2023 – GameStop had its price target lowered by analysts at Wedbush from $6.50 to $6.20. They now have an “underperform” rating on the stock.
  • 6/1/2023 – GameStop was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 5/24/2023 – GameStop was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 5/13/2023 – GameStop was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 5/5/2023 – GameStop was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 4/27/2023 – GameStop was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 4/19/2023 – GameStop was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

GameStop Trading Up 5.8 %

Shares of GME stock opened at $22.68 on Monday. GameStop Corp. has a 52-week low of $15.41 and a 52-week high of $47.99. The firm has a fifty day moving average of $21.88 and a 200-day moving average of $21.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.71. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -33.35 and a beta of -0.29.

GameStop (NYSE:GME – Get Rating) last announced its quarterly earnings data on Wednesday, June 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. GameStop had a negative return on equity of 14.97% and a negative net margin of 3.56%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted ($0.52) EPS. The business’s revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts forecast that GameStop Corp. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In related news, Director Alain Attal acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was bought at an average cost of $22.40 per share, with a total value of $224,000.00. Following the acquisition, the director now owns 538,692 shares of the company’s stock, valued at approximately $12,066,700.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Alain Attal purchased 10,000 shares of GameStop stock in a transaction dated Friday, June 9th. The stock was purchased at an average cost of $22.40 per share, for a total transaction of $224,000.00. Following the completion of the acquisition, the director now directly owns 538,692 shares of the company’s stock, valued at $12,066,700.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence Cheng acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was purchased at an average cost of $22.80 per share, with a total value of $114,000.00. Following the acquisition, the director now directly owns 37,088 shares of the company’s stock, valued at $845,606.40. The disclosure for this purchase can be found here. Corporate insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On GameStop

Institutional investors have recently modified their holdings of the business. Covestor Ltd grew its position in GameStop by 323.2% during the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after buying an additional 181 shares during the period. Canada Pension Plan Investment Board purchased a new stake in GameStop in the first quarter valued at approximately $50,000. Nomura Asset Management Co. Ltd. raised its holdings in GameStop by 300.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $25,000 after buying an additional 750 shares during the period. Captrust Financial Advisors increased its holdings in GameStop by 457.1% in the 1st quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock valued at $175,000 after purchasing an additional 864 shares in the last quarter. Finally, Guardian Wealth Advisors LLC purchased a new position in GameStop in the 3rd quarter worth approximately $32,000. 25.57% of the stock is currently owned by institutional investors and hedge funds.

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.

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