GameStop Corp. (NYSE:GME) was downgraded by equities researchers at Vetr from a “buy” rating to a “sell” rating in a research note issued to investors on Thursday. They presently have a $25.08 price target on the stock. Vetr‘s target price would suggest a potential downside of 3.76% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Wedbush reiterated a “buy” rating on shares of GameStop Corp. in a report on Wednesday, August 17th. TheStreet upgraded GameStop Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. Hilliard Lyons upgraded GameStop Corp. from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Friday, September 9th. Bank of America Corp. set a $37.00 price objective on GameStop Corp. and gave the stock a “buy” rating in a research report on Friday, October 7th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of GameStop Corp. in a research report on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.63.
Shares of GameStop Corp. (NYSE:GME) traded up 8.09% during midday trading on Thursday, reaching $26.06. 9,390,311 shares of the company traded hands. The stock has a 50 day moving average price of $24.02 and a 200 day moving average price of $27.43. GameStop Corp. has a 1-year low of $20.10 and a 1-year high of $36.95. The firm has a market capitalization of $2.71 billion, a PE ratio of 6.87 and a beta of 1.16.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter last year, the company posted $0.54 EPS. GameStop Corp.’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that GameStop Corp. will post $3.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Thursday, December 1st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Tuesday, November 29th. GameStop Corp.’s payout ratio is 39.47%.
In other news, EVP Michael Mauler bought 10,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was bought at an average cost of $26.91 per share, with a total value of $269,100.00. Following the transaction, the executive vice president now directly owns 120,922 shares in the company, valued at approximately $3,254,011.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. LPL Financial LLC boosted its position in shares of GameStop Corp. by 54.8% in the third quarter. LPL Financial LLC now owns 19,888 shares of the company’s stock valued at $540,000 after buying an additional 7,040 shares during the last quarter. Credit Suisse AG boosted its position in shares of GameStop Corp. by 42.9% in the third quarter. Credit Suisse AG now owns 666,965 shares of the company’s stock valued at $18,401,000 after buying an additional 200,203 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of GameStop Corp. by 93.0% in the third quarter. Ameritas Investment Partners Inc. now owns 31,717 shares of the company’s stock valued at $875,000 after buying an additional 15,281 shares during the last quarter. Phocas Financial Corp. bought a new position in shares of GameStop Corp. during the third quarter valued at about $8,821,000. Finally, Chartwell Investment Partners LLC boosted its position in shares of GameStop Corp. by 3,534.9% in the third quarter. Chartwell Investment Partners LLC now owns 694,815 shares of the company’s stock valued at $19,170,000 after buying an additional 675,700 shares during the last quarter.
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.