SunTrust Banks Inc. reiterated their buy rating on shares of GameStop Corp. (NYSE:GME) in a report issued on Wednesday.
GME has been the subject of a number of other research reports. Robert W. Baird reiterated an outperform rating and set a $40.00 target price on shares of GameStop Corp. in a research report on Monday, September 26th. Bank of America Corp. set a $37.00 target price on shares of GameStop Corp. and gave the stock a buy rating in a research report on Friday, October 7th. Hilliard Lyons upgraded shares of GameStop Corp. from a neutral rating to a buy rating and set a $33.00 target price for the company in a research report on Friday, September 9th. Credit Suisse Group AG reiterated a hold rating and set a $30.00 target price on shares of GameStop Corp. in a research report on Monday, August 22nd. Finally, Pacific Crest reiterated a hold rating on shares of GameStop Corp. in a research report on Monday, August 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $36.71.
Shares of GameStop Corp. (NYSE:GME) traded down 1.76% during midday trading on Wednesday, hitting $25.66. 1,746,008 shares of the company traded hands. GameStop Corp. has a 12-month low of $24.33 and a 12-month high of $47.62. The stock’s 50-day moving average is $27.82 and its 200 day moving average is $29.13. The stock has a market capitalization of $2.67 billion, a P/E ratio of 6.77 and a beta of 1.08.
GameStop Corp. (NYSE:GME) last announced its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The business earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.73 billion. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. On average, analysts expect that GameStop Corp. will post $3.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.67%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s payout ratio is 39.05%.
In related news, EVP Michael Mauler purchased 10,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average price of $26.91 per share, with a total value of $269,100.00. Following the completion of the purchase, the executive vice president now owns 120,922 shares in the company, valued at approximately $3,254,011.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of GameStop Corp. by 121.9% in the second quarter. BlackRock Fund Advisors now owns 3,625,827 shares of the company’s stock worth $96,374,000 after buying an additional 1,991,782 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of GameStop Corp. by 403.8% in the second quarter. JPMorgan Chase & Co. now owns 1,162,782 shares of the company’s stock worth $30,906,000 after buying an additional 931,985 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in shares of GameStop Corp. during the third quarter worth $23,569,000. State of New Jersey Common Pension Fund D raised its position in shares of GameStop Corp. by 114.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,500,000 shares of the company’s stock worth $39,870,000 after buying an additional 800,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of GameStop Corp. by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,911,387 shares of the company’s stock worth $103,963,000 after buying an additional 469,556 shares during the last quarter.
About GameStop Corp.