GameStop Corp. (GME) Downgraded by Vetr Inc. to Sell
GameStop Corp. (NYSE:GME) was downgraded by research analysts at Vetr from a “buy” rating to a “sell” rating in a report issued on Thursday. They presently have a $25.08 price target on the stock. Vetr‘s price target suggests a potential downside of 3.76% from the stock’s previous close.
GME has been the topic of several other reports. Pacific Crest reissued a “hold” rating on shares of GameStop Corp. in a research report on Monday, August 22nd. Robert W. Baird reissued an “outperform” rating and set a $42.00 price target on shares of GameStop Corp. in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of GameStop Corp. from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, July 27th. Piper Jaffray Cos. reissued an “outperform” rating and set a $41.00 price target on shares of GameStop Corp. in a research report on Friday, August 26th. Finally, Wedbush set a $36.00 price target on shares of GameStop Corp. and gave the stock a “buy” rating in a research report on Sunday, August 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. GameStop Corp. presently has a consensus rating of “Hold” and a consensus price target of $31.63.
GameStop Corp. (NYSE:GME) traded up 8.09% during midday trading on Thursday, reaching $26.06. The company had a trading volume of 9,390,311 shares. The stock’s 50 day moving average price is $24.02 and its 200-day moving average price is $27.43. GameStop Corp. has a one year low of $20.10 and a one year high of $36.95. The firm has a market capitalization of $2.71 billion, a P/E ratio of 6.87 and a beta of 1.16.
GameStop Corp. (NYSE:GME) last announced its earnings results on Tuesday, November 22nd. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The firm earned $1.96 billion during the quarter. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.72%. GameStop Corp.’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. On average, equities research analysts anticipate that GameStop Corp. will post $3.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.48 annualized dividend and a yield of 5.68%. GameStop Corp.’s dividend payout ratio is currently 39.47%.
In other news, EVP Michael Mauler acquired 10,000 shares of the stock in a transaction on Thursday, September 15th. The stock was acquired at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of GameStop Corp. by 121.9% in the second quarter. BlackRock Fund Advisors now owns 3,625,827 shares of the company’s stock valued at $96,374,000 after buying an additional 1,991,782 shares in the last quarter. JPMorgan Chase & Co. boosted 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 $23,569,000. State of New Jersey Common Pension Fund D boosted 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 boosted 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.
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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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