GameStop Corp. (GME) Shares Down 2.2%
GameStop Corp. (NYSE:GME) shares dropped 2.2% during trading on Friday . The company traded as low as $27.98 and last traded at $27.99, with a volume of 2,464,740 shares trading hands. The stock had previously closed at $28.62.
GME has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of GameStop Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Credit Suisse Group AG restated a “neutral” rating and issued a $38.00 target price on shares of GameStop Corp. in a report on Tuesday, March 22nd. Robert W. Baird restated a “buy” rating on shares of GameStop Corp. in a report on Sunday, May 29th. Bank of America Corp. restated a “hold” rating on shares of GameStop Corp. in a report on Sunday, May 29th. Finally, Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a report on Saturday, June 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $37.79.
The company has a 50 day moving average of $27.17 and a 200-day moving average of $28.90. The firm has a market capitalization of $2.91 billion and a P/E ratio of 7.48.
GameStop Corp. (NYSE:GME) last announced its quarterly earnings data on Thursday, May 26th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. During the same period last year, the company earned $0.68 EPS. The business earned $1.97 billion during the quarter, compared to the consensus estimate of $1.97 billion. The business’s revenue was down 4.3% compared to the same quarter last year. Analysts predict that GameStop Corp. will post $4.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 21st. Shareholders of record on Wednesday, June 8th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Monday, June 6th.
Other institutional investors have made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of GameStop Corp. during the fourth quarter valued at approximately $1,165,000. Sei Investments Co. boosted its stake in shares of GameStop Corp. by 520.4% in the fourth quarter. Sei Investments Co. now owns 43,711 shares of the company’s stock valued at $1,225,000 after buying an additional 36,665 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of GameStop Corp. by 19.4% in the fourth quarter. ProShare Advisors LLC now owns 46,026 shares of the company’s stock valued at $1,291,000 after buying an additional 7,493 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of GameStop Corp. by 1.1% in the fourth quarter. TD Asset Management Inc. now owns 47,690 shares of the company’s stock valued at $1,337,000 after buying an additional 500 shares in the last quarter. Finally, ARGI Investment Services LLC boosted its stake in shares of GameStop Corp. by 151.0% in the fourth quarter. ARGI Investment Services LLC now owns 55,701 shares of the company’s stock valued at $1,562,000 after buying an additional 33,506 shares in the last quarter.
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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