GameStop (NYSE:GME) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of GameStop (NYSE:GME) from a buy rating to a hold rating in a research note issued to investors on Monday,Wall Street Zen reports.

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 currently has an average rating of “Hold”.

GameStop Stock Up 0.3%

Shares of GME opened at $19.21 on Monday. GameStop has a 52-week low of $17.79 and a 52-week high of $28.10. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $20.23 and a two-hundred day simple moving average of $22.07. The company has a market capitalization of $8.62 billion, a PE ratio of 14.55 and a beta of 1.72.

Insider Buying and Selling

In related news, insider Daniel Moore sold 7,085 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 approximately $2,576,497.50. This represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark Robinson sold 7,083 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,517.54. Following the sale, the general counsel directly owned 108,147 shares of the company’s stock, valued at approximately $2,420,329.86. This trade represents a 6.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,125 shares of company stock worth $406,587 over the last quarter. 9.50% of the stock is currently owned by insiders.

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently modified their holdings of GME. Renaissance Technologies LLC boosted its stake in GameStop by 376.2% during the first quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock worth $61,063,000 after buying an additional 2,093,755 shares during the period. Delta Global Management LP purchased a new stake in shares of GameStop in the 1st quarter valued at approximately $3,448,000. Quantinno Capital Management LP raised its stake in shares of GameStop by 377.8% in the 1st quarter. Quantinno Capital Management LP now owns 138,846 shares of the company’s stock valued at $3,199,000 after acquiring an additional 109,788 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of GameStop by 189.1% in 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 during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of GameStop by 22.5% in the 1st quarter. California State Teachers Retirement System now owns 493,286 shares of the company’s stock worth $11,365,000 after acquiring an additional 90,474 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

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.