GameStop Corp. (GME) Stock Rating Reaffirmed by Benchmark Co.
GameStop Corp. (NYSE:GME)‘s stock had its “sell” rating reiterated by investment analysts at Benchmark Co. in a research report issued on Tuesday. They currently have a $20.11 target price on the stock, down from their previous target price of $20.67. Benchmark Co.’s price objective would suggest a potential downside of 17.88% from the company’s current price.
Several other brokerages have also recently issued reports on GME. Pacific Crest reissued a “hold” rating on shares of GameStop Corp. in a research report on Sunday, August 28th. Zacks Investment Research cut shares of GameStop Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday, November 14th. Wedbush set a $30.00 price target on shares of GameStop Corp. and gave the stock a “buy” rating in a research report on Saturday. SunTrust Banks Inc. reissued a “buy” rating on shares of GameStop Corp. in a research 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 on the stock in a research report on Friday, September 9th. Three equities research 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. The company currently has an average rating of “Hold” and an average target price of $30.86.
GameStop Corp. (NYSE:GME) traded down 1.17% during mid-day trading on Tuesday, reaching $24.49. 2,321,086 shares of the company were exchanged. The stock has a 50-day moving average of $23.86 and a 200 day moving average of $27.33. GameStop Corp. has a 1-year low of $20.10 and a 1-year high of $35.17. The firm has a market capitalization of $2.54 billion, a P/E ratio of 6.51 and a beta of 1.16.
GameStop Corp. (NYSE:GME) last posted its earnings results on Tuesday, November 22nd. The company reported $0.49 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.96 billion for the quarter. During the same period in the previous year, the company earned $0.54 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts forecast that GameStop Corp. will post $3.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Thursday, December 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Tuesday, November 29th. GameStop Corp.’s dividend payout ratio is presently 39.47%.
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In related news, EVP Michael Mauler purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average cost of $26.91 per share, with a total value of $269,100.00. Following the completion of the acquisition, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.
Several large investors have recently modified their holdings of GME. WFG Advisors LP increased its stake in shares of 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 in 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 acquired a new stake in GameStop Corp. during the second quarter worth approximately $150,000. Finally, BlueMountain Capital Management LLC acquired a new stake in GameStop Corp. during the first quarter worth approximately $156,000.
GameStop Corp. Company Profile
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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