GameStop (NYSE:GME) Stock Rating Lowered by Wall Street Zen

GameStop (NYSE:GME) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, GameStop has a consensus rating of “Hold”.

GameStop Stock Down 0.1%

NYSE:GME opened at $18.20 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. The company’s fifty day moving average price is $20.87 and its 200-day moving average price is $22.51. GameStop has a 1-year low of $17.79 and a 1-year high of $28.10. The firm has a market capitalization of $8.17 billion, a P/E ratio of 13.79 and a beta of 1.79.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The company had revenue of $835.30 million during the quarter, compared to the consensus estimate of $766.63 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Buying and Selling

In related news, insider Daniel William Moore sold 7,085 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,562.30. Following the completion of the transaction, the insider directly owned 115,125 shares in the company, valued at $2,576,497.50. The trade was a 5.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 3,957 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $22.62, for a total transaction of $89,507.34. Following the sale, the general counsel directly owned 104,190 shares in the company, valued at $2,356,777.80. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,125 shares of company stock worth $406,587 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GME. AQR Capital Management LLC raised its holdings in GameStop by 312.2% in the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock worth $623,000 after purchasing an additional 22,297 shares during the period. Goldman Sachs Group Inc. grew its holdings in GameStop by 33.2% in the first quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after purchasing an additional 65,325 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GameStop by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock valued at $25,255,000 after purchasing an additional 94,892 shares during the period. American Century Companies Inc. increased its position in shares of GameStop by 6.5% in the second quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock valued at $865,000 after buying an additional 2,162 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after buying an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.