GameStop (NYSE:GME) Now Covered by Stonex Financia

Stonex Financia began coverage on shares of GameStop (NYSE:GME) in a research report released on Monday morning,Zacks reports. The brokerage issued a strong-buy rating on the stock.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of GameStop from a “buy” rating to a “hold” rating in a research report on Monday, September 7th. Zacks Research raised GameStop to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings upgraded GameStop from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Yorkville Ives started coverage on GameStop in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.00.

GameStop Trading Up 0.8%

GME stock opened at $24.38 on Monday. The firm has a fifty day moving average price of $23.16 and a 200 day moving average price of $22.68. GameStop has a fifty-two week low of $17.79 and a fifty-two week high of $28.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 8.07 and a current ratio of 8.72. The firm has a market cap of $12.30 billion, a PE ratio of 16.04 and a beta of 1.65.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The company had revenue of $790.20 million for the quarter, compared to analysts’ expectations of $756.85 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. GameStop’s quarterly revenue was down 18.7% on a year-over-year basis. Sell-side analysts anticipate that GameStop will post 1.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ryan Cohen purchased 1,150,680 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average cost of $22.94 per share, with a total value of $26,396,599.20. Following the purchase, the chief executive officer owned 40,498,522 shares in the company, valued at approximately $929,036,094.68. This trade represents a 2.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Moore sold 15,480 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $27.00, for a total transaction of $417,960.00. Following the transaction, the insider owned 92,348 shares in the company, valued at $2,493,396. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders bought 4,232,772 shares of company stock worth $98,994,742 and sold 33,955 shares worth $870,667. 9.50% of the stock is currently owned by company insiders.

Institutional Trading of GameStop

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in GameStop by 189.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock valued at $90,046,000 after acquiring an additional 2,557,079 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of GameStop by 376.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock valued at $61,063,000 after acquiring an additional 2,093,755 shares during the period. WINTON GROUP Ltd bought a new position in shares of GameStop in the 2nd quarter worth $5,111,000. First Trust Advisors LP raised its position in shares of GameStop by 412.7% in the 1st quarter. First Trust Advisors LP now owns 208,650 shares of the company’s stock worth $4,807,000 after acquiring an additional 167,956 shares in the last quarter. Finally, Delta Global Management LP bought a new position in shares of GameStop in the 1st quarter worth $3,448,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Company Profile

GameStop Corp. is a specialty retailer focused on video games, gaming hardware, accessories, and related entertainment products. Its merchandise includes new and pre-owned video game consoles and software, controllers, headsets, collectibles, toys, apparel, and trading cards. The company sells through its retail stores and e-commerce channels and also offers trade-in services for eligible games, devices, and accessories.

GameStop serves customers primarily in the United States, Canada, and Australia, with its physical-store network complemented by online sales.