GameStop (NYSE:GME) Given Underperform Rating at Wedbush

GameStop (NYSE:GME)‘s stock had its “underperform” rating reiterated by equities research analysts at Wedbush in a report issued on Wednesday,Benzinga reports. They presently have a $13.50 price target on the stock. Wedbush’s price target would suggest a potential downside of 38.33% from the stock’s previous close. Wedbush also issued estimates for GameStop’s Q1 2027 earnings at $0.07 EPS, Q2 2027 earnings at $0.06 EPS, Q3 2027 earnings at $0.06 EPS, Q4 2027 earnings at $0.16 EPS, FY2027 earnings at $0.36 EPS and Q1 2028 earnings at $0.06 EPS.

Separately, Wall Street Zen raised GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

GameStop Stock Performance

NYSE:GME opened at $21.89 on Wednesday. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 121.62 and a beta of -0.69. GameStop has a one year low of $18.73 and a one year high of $35.81. The stock has a 50-day simple moving average of $27.98 and a 200 day simple moving average of $27.41.

GameStop (NYSE:GME) last released its earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.13. The company had revenue of $732.40 million for the quarter, compared to the consensus estimate of $754.23 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) EPS. On average, equities research analysts forecast that GameStop will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 4,687 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the transaction, the general counsel now directly owns 37,663 shares in the company, valued at $848,547.39. This represents a 11.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alain Attal bought 10,000 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the transaction, the director now directly owns 572,464 shares of the company’s stock, valued at $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 515,000 shares of company stock valued at $11,140,200. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bayforest Capital Ltd increased its holdings in shares of GameStop by 654.6% in the 1st quarter. Bayforest Capital Ltd now owns 15,212 shares of the company’s stock worth $340,000 after acquiring an additional 13,196 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GameStop by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock worth $25,255,000 after purchasing an additional 94,892 shares during the last quarter. United Services Automobile Association increased its stake in shares of GameStop by 4.1% in the first quarter. United Services Automobile Association now owns 26,202 shares of the company’s stock valued at $569,000 after purchasing an additional 1,044 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of GameStop by 33.2% in the first quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after purchasing an additional 65,325 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of GameStop by 312.2% during the first quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock valued at $623,000 after buying an additional 22,297 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.