Other analysts have also issued reports about the company. Wedbush set a $9.00 price objective on GameStop and gave the company a buy rating in a research note on Thursday, July 11th. Bank of America decreased their price objective on GameStop from $4.00 to $2.50 and set an underperform rating on the stock in a research note on Tuesday, August 20th. Ascendiant Capital Markets lowered GameStop from a buy rating to a hold rating and set a $4.00 price objective on the stock. in a research note on Wednesday, June 5th. Loop Capital reduced their target price on GameStop to $4.00 and set a hold rating for the company in a research report on Tuesday. Finally, Benchmark restated a sell rating and set a $5.00 target price (down from $9.00) on shares of GameStop in a research report on Wednesday, June 5th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. GameStop currently has a consensus rating of Hold and an average target price of $8.65.
GME opened at $4.31 on Wednesday. The business’s fifty day moving average is $3.82 and its 200-day moving average is $7.23. The firm has a market cap of $432.60 million, a P/E ratio of 1.89 and a beta of 0.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 1.48. GameStop has a 52-week low of $3.15 and a 52-week high of $17.04.
GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.09. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the firm posted $0.38 earnings per share. GameStop’s revenue was down 13.3% compared to the same quarter last year. On average, research analysts predict that GameStop will post 1.5 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in GME. Renaissance Technologies LLC boosted its stake in shares of GameStop by 905.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,127,146 shares of the company’s stock worth $28,045,000 after buying an additional 4,617,446 shares during the last quarter. Aristeia Capital LLC purchased a new stake in GameStop during the second quarter worth about $16,116,000. 3G Capital Partners LP acquired a new position in GameStop during the second quarter worth about $13,955,000. Alpine Associates Management Inc. acquired a new position in GameStop during the second quarter worth about $13,183,000. Finally, JPMorgan Chase & Co. raised its position in GameStop by 627.0% during the first quarter. JPMorgan Chase & Co. now owns 2,734,838 shares of the company’s stock worth $27,786,000 after acquiring an additional 2,358,639 shares during the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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