Several other analysts have also issued reports on GME. Piper Jaffray Cos. reiterated an overweight rating and set a $41.00 target price on shares of GameStop Corp. in a report on Friday, June 17th. Telsey Advisory Group upgraded GameStop Corp. from a market perform rating to an outperform rating and set a $35.00 target price on the stock in a report on Monday, June 27th. They noted that the move was a valuation call. Wedbush reiterated an outperform rating on shares of GameStop Corp. in a report on Wednesday, July 6th. Bank of America Corp. upgraded GameStop Corp. from a neutral rating to a buy rating and set a $35.00 target price on the stock in a report on Monday, July 11th. Finally, Vetr lowered GameStop Corp. from a strong-buy rating to a buy rating and set a $33.63 target price on the stock. in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $36.71.
Shares of GameStop Corp. (NYSE:GME) traded down 0.35% during mid-day trading on Friday, hitting $25.38. The company’s stock had a trading volume of 3,136,105 shares. The company has a 50-day moving average of $27.45 and a 200 day moving average of $29.07. GameStop Corp. has a 1-year low of $24.33 and a 1-year high of $47.62. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 6.69 and a beta of 1.08.
GameStop Corp. (NYSE:GME) last released its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. GameStop Corp.’s revenue was down 7.4% on a year-over-year basis. On average, analysts expect that GameStop Corp. will post $3.99 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is currently 39.05%.
In other GameStop Corp. news, EVP Michael Mauler bought 10,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was purchased at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the purchase, the executive vice president now directly owns 120,922 shares of the company’s stock, valued at $3,254,011.02. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GME. Point View Wealth Management Inc. boosted its stake in GameStop Corp. by 1.5% in the second quarter. Point View Wealth Management Inc. now owns 13,057 shares of the company’s stock valued at $347,000 after buying an additional 192 shares during the last quarter. WFG Advisors LP boosted its stake in GameStop Corp. by 8.8% in the second quarter. WFG Advisors LP now owns 3,950 shares of the company’s stock valued at $105,000 after buying an additional 320 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in GameStop Corp. by 0.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 160,700 shares of the company’s stock valued at $5,099,000 after buying an additional 500 shares during the last quarter. Penserra Capital Management LLC boosted its stake in GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock valued at $131,000 after buying an additional 542 shares during the last quarter. Finally, Babson Capital Management LLC boosted its stake in GameStop Corp. by 0.9% in the first quarter. Babson Capital Management LLC now owns 67,012 shares of the company’s stock valued at $2,126,000 after buying an additional 600 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.
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