Gamestop Corporation (GME) Downgraded by ValuEngine to “Hold”
Gamestop Corporation (NYSE:GME) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Gamestop Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Gamestop Corporation in a research note on Tuesday, June 20th. Credit Suisse Group set a $20.00 price target on shares of Gamestop Corporation and gave the company a “hold” rating in a research note on Sunday, May 28th. Bank of America Corporation set a $27.00 price target on shares of Gamestop Corporation and gave the company a “hold” rating in a research note on Saturday, May 13th. Finally, Vetr lowered shares of Gamestop Corporation from a “sell” rating to a “strong sell” rating and set a $20.04 price target on the stock. in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Gamestop Corporation presently has an average rating of “Hold” and an average target price of $24.84.
Shares of Gamestop Corporation (GME) opened at 18.67 on Friday. The company’s 50-day moving average price is $21.00 and its 200-day moving average price is $22.52. The firm has a market capitalization of $1.89 billion, a P/E ratio of 5.62 and a beta of 1.20. Gamestop Corporation has a 52-week low of $18.47 and a 52-week high of $30.51.
Gamestop Corporation (NYSE:GME) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Gamestop Corporation had a net margin of 3.90% and a return on equity of 16.66%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Gamestop Corporation will post $3.32 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Gamestop Corporation by 11,239.8% in the first quarter. BlackRock Inc. now owns 8,262,281 shares of the company’s stock worth $186,314,000 after buying an additional 8,189,420 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Gamestop Corporation by 38.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,501,615 shares of the company’s stock worth $183,720,000 after buying an additional 2,353,774 shares during the period. Numeric Investors LLC purchased a new stake in shares of Gamestop Corporation during the second quarter worth $34,679,000. Balyasny Asset Management LLC increased its stake in shares of Gamestop Corporation by 1,459.9% in the second quarter. Balyasny Asset Management LLC now owns 724,800 shares of the company’s stock worth $15,663,000 after buying an additional 678,335 shares during the period. Finally, Morgan Stanley increased its stake in shares of Gamestop Corporation by 51.6% in the first quarter. Morgan Stanley now owns 1,234,663 shares of the company’s stock worth $27,841,000 after buying an additional 420,120 shares during the period.
About Gamestop Corporation
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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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