GameStop Corp. (GME) Rating Lowered to Buy at Vetr Inc.
GameStop Corp. (NYSE:GME) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They presently have a $24.79 target price on the stock. Vetr‘s price objective would indicate a potential upside of 7.50% from the stock’s current price.
GME has been the subject of several other reports. Zacks Investment Research lowered shares of GameStop Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday. Robert W. Baird reissued an “outperform” rating and set a $25.00 price target (down from $40.00) on shares of GameStop Corp. in a research report on Friday, November 4th. Telsey Advisory Group decreased their price target on shares of GameStop Corp. from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Wedbush set a $30.00 price target on shares of GameStop Corp. and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Finally, Benchmark Co. decreased their price target on shares of GameStop Corp. from $24.99 to $20.67 and set a “sell” rating for the company in a research report on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $32.90.
Shares of GameStop Corp. (NYSE:GME) opened at 23.06 on Tuesday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 6.08 and a beta of 1.16. The company’s 50-day moving average is $24.48 and its 200 day moving average is $27.67. GameStop Corp. has a 12 month low of $20.10 and a 12 month high of $39.77.
GameStop Corp. (NYSE:GME) last issued its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the business earned $0.31 EPS. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities research analysts anticipate that GameStop Corp. will post $3.71 earnings per share for the current year.
In related news, EVP Michael Mauler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $26.91 per share, with a total value of $269,100.00. Following the completion of the purchase, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its stake in GameStop Corp. by 121.9% in the second quarter. BlackRock Fund Advisors now owns 3,625,827 shares of the company’s stock worth $96,374,000 after buying an additional 1,991,782 shares during the last quarter. JPMorgan Chase & Co. raised its stake in GameStop Corp. by 403.8% in the second quarter. JPMorgan Chase & Co. now owns 1,162,782 shares of the company’s stock worth $30,906,000 after buying an additional 931,985 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in GameStop Corp. during the third quarter worth approximately $23,569,000. State of New Jersey Common Pension Fund D raised its stake in GameStop Corp. by 114.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,500,000 shares of the company’s stock worth $39,870,000 after buying an additional 800,000 shares during the last quarter. Finally, Chartwell Investment Partners LLC raised its stake in GameStop Corp. by 3,534.9% in the third quarter. Chartwell Investment Partners LLC now owns 694,815 shares of the company’s stock worth $19,170,000 after buying an additional 675,700 shares during the last quarter.
About GameStop Corp.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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