GameStop (NYSE:GME) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of GameStop (NYSE:GME) from a buy rating to a hold rating in a report published on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of GameStop in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

GameStop Trading Down 1.1%

NYSE GME opened at $18.01 on Friday. GameStop has a 52 week low of $17.79 and a 52 week high of $28.10. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. The stock has a market cap of $8.08 billion, a P/E ratio of 13.65 and a beta of 1.79. The company’s fifty day simple moving average is $20.80 and its 200-day simple moving average is $22.47.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.30 earnings per share 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 analysts’ expectations of $766.63 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 3,957 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the general counsel owned 104,190 shares in the company, valued at $2,356,777.80. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the company’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 $158,562.30. Following the transaction, the insider owned 115,125 shares of the company’s stock, valued at approximately $2,576,497.50. The trade was a 5.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,125 shares of company stock worth $406,587. Company insiders own 9.50% of the company’s stock.

Institutional Trading of GameStop

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in GameStop by 2,043.5% during the 2nd quarter. California State Teachers Retirement System now owns 10,573,648 shares of the company’s stock valued at $233,466,000 after purchasing an additional 10,080,362 shares during the period. AlphaGrep UK Ltd bought a new stake in shares of GameStop during the second quarter valued at approximately $708,000. Public Employees Retirement System of Ohio acquired a new position in shares of GameStop during the second quarter worth approximately $2,578,000. Jupiter Topco LLC bought a new position in GameStop in the 2nd quarter worth approximately $51,000. Finally, Handelsbanken Fonder AB increased its position in GameStop by 4.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 141,200 shares of the company’s stock valued at $3,118,000 after acquiring an additional 6,300 shares during the period. 29.21% of the stock is currently owned by institutional investors.

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.