GameStop (NYSE:GME) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of GameStop (NYSE:GME – Get Rating) in a research note released on Thursday. The firm issued a sell rating on the stock.

Separately, Wedbush reduced their price target on GameStop from $6.00 to $5.30 and set an underperform rating on the stock in a research report on Thursday, December 8th.

GameStop Stock Down 1.0 %

GME opened at $16.60 on Thursday. The stock’s 50 day simple moving average is $19.82 and its 200 day simple moving average is $22.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.63. GameStop has a 1 year low of $15.41 and a 1 year high of $49.85.

Institutional Investors Weigh In On GameStop

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of GameStop by 301.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,190,263 shares of the company’s stock worth $55,042,000 after buying an additional 1,644,587 shares during the last quarter. Credit Suisse AG boosted its position in shares of GameStop by 308.4% during the third quarter. Credit Suisse AG now owns 255,978 shares of the company’s stock valued at $6,431,000 after purchasing an additional 193,298 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of GameStop by 287.8% during the third quarter. Penserra Capital Management LLC now owns 9,296 shares of the company’s stock valued at $233,000 after purchasing an additional 6,899 shares in the last quarter. Western Wealth Management LLC boosted its position in shares of GameStop by 231.2% during the third quarter. Western Wealth Management LLC now owns 11,896 shares of the company’s stock valued at $299,000 after purchasing an additional 8,304 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of GameStop by 213.8% during the third quarter. Nisa Investment Advisors LLC now owns 4,550 shares of the company’s stock valued at $114,000 after purchasing an additional 3,100 shares in the last quarter. 25.57% of the stock is currently owned by institutional investors.

About GameStop

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.