GameStop Corp. (GME) Receives Sell Rating from Benchmark Co.
Benchmark Co. reiterated their sell rating on shares of GameStop Corp. (NYSE:GME) in a report released on Tuesday morning. Benchmark Co. currently has a $20.11 target price on the stock, down from their prior target price of $20.67.
Several other research firms also recently commented on GME. Pacific Crest reissued a hold rating on shares of GameStop Corp. in a report on Sunday, August 28th. Zacks Investment Research downgraded shares of GameStop Corp. from a hold rating to a strong sell rating in a report on Monday, November 14th. Wedbush set a $30.00 price target on shares of GameStop Corp. and gave the company a buy rating in a report on Saturday. SunTrust Banks Inc. reaffirmed a buy rating on shares of GameStop Corp. in a report on Wednesday, October 12th. Finally, Hilliard Lyons raised shares of GameStop Corp. from a neutral rating to a buy rating and set a $33.00 price target for the company in a report on Friday, September 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. GameStop Corp. has an average rating of Hold and an average target price of $30.86.
GameStop Corp. (NYSE:GME) opened at 24.49 on Tuesday. The stock’s 50 day moving average is $23.86 and its 200-day moving average is $27.33. The company has a market capitalization of $2.54 billion, a P/E ratio of 6.51 and a beta of 1.16. GameStop Corp. has a 1-year low of $20.10 and a 1-year high of $35.17.
GameStop Corp. (NYSE:GME) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.72%. The business earned $1.96 billion during the quarter. During the same period last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts expect that GameStop Corp. will post $3.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors 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 dividend on an annualized basis and a yield of 6.04%. GameStop Corp.’s payout ratio is presently 39.47%.
In other GameStop Corp. news, EVP Michael Mauler purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were purchased 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 owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GME. WFG Advisors LP raised its position in GameStop Corp. by 8.8% in the second quarter. WFG Advisors LP now owns 3,950 shares of the company’s stock valued at $105,000 after buying an additional 320 shares during the last quarter. SG Americas Securities LLC increased its stake in GameStop Corp. by 102.5% in the third quarter. SG Americas Securities LLC now owns 4,347 shares of the company’s stock worth $120,000 after buying an additional 180,696 shares during the period. Penserra Capital Management LLC increased its stake in GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock worth $131,000 after buying an additional 542 shares during the period. Americafirst Capital Management LLC bought a new stake in GameStop Corp. during the second quarter worth about $150,000. Finally, BlueMountain Capital Management LLC bought a new stake in GameStop Corp. during the first quarter worth about $156,000.
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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