GameStop (NYSE:GME) Upgraded at StockNews.com

GameStop (NYSE:GME – Get Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

GameStop Stock Performance

Shares of NYSE GME opened at $23.16 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $21.05 and its two-hundred day moving average price is $21.28. GameStop has a 52-week low of $15.41 and a 52-week high of $47.99. The stock has a market capitalization of $7.06 billion, a P/E ratio of -22.49 and a beta of -0.32.

GameStop (NYSE:GME – Get Rating) last released its quarterly earnings results on Tuesday, March 21st. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.29. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. GameStop had a negative return on equity of 23.09% and a negative net margin of 5.28%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) earnings per share. As a group, sell-side analysts forecast that GameStop will post -0.51 earnings per share for the current year.

Insider Activity

In related news, Director Lawrence Cheng acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were acquired at an average price of $22.80 per share, for a total transaction of $114,000.00. Following the completion of the purchase, the director now directly owns 37,088 shares of the company’s stock, valued at $845,606.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GME. JPMorgan Chase & Co. grew its position in GameStop by 21.2% in the first quarter. JPMorgan Chase & Co. now owns 535,630 shares of the company’s stock worth $12,330,000 after buying an additional 93,753 shares during the last quarter. Advisory Services Network LLC grew its position in GameStop by 363.1% in the first quarter. Advisory Services Network LLC now owns 5,691 shares of the company’s stock worth $131,000 after buying an additional 4,462 shares during the last quarter. State Street Corp grew its position in GameStop by 4.3% in the first quarter. State Street Corp now owns 7,565,856 shares of the company’s stock worth $174,165,000 after buying an additional 311,487 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in GameStop by 216.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 4,384 shares of the company’s stock worth $101,000 after buying an additional 3,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in GameStop by 3.5% in the first quarter. Geode Capital Management LLC now owns 3,617,565 shares of the company’s stock worth $83,276,000 after buying an additional 121,916 shares during the last quarter. Institutional investors and hedge funds own 25.57% of the company’s stock.

GameStop Company Profile

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.