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

Key Points

• GameStop was downgraded from “Buy” to “Hold” by Wall Street Zen, while Weiss Ratings maintained a “Hold (C)” rating. MarketBeat data shows the stock’s consensus rating is “Hold.”
• GME opened at $19.21, with a 12-month range of $17.79 to $28.10 and a market capitalization of approximately $8.62 billion.
• GameStop insiders sold 18,125 shares worth about $406,587 over the past 90 days, while institutional investors own 29.21% of the company.

GameStop (NYSE:GME - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Monday, Wall Street Zen reports.

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, the company presently has an average rating of "Hold".

GameStop Trading Up 0.3%

GME stock opened at $19.21 on Monday. GameStop has a twelve month low of $17.79 and a twelve month high of $28.10. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.55 and a beta of 1.72. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71. The firm's fifty day simple moving average is $20.28 and its two-hundred day simple moving average is $22.10.

Insider Transactions at GameStop

In other news, insider Daniel Moore sold 7,085 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.38, for a total value of $158,562.30. Following the completion of the sale, the insider owned 115,125 shares in the company, valued at approximately $2,576,497.50. The trade was a 5.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Robinson sold 7,083 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,517.54. Following the completion of the sale, the general counsel directly owned 108,147 shares of the company's stock, valued at $2,420,329.86. The trade was a 6.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,125 shares of company stock worth $406,587 over the last 90 days. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On GameStop

Large investors have recently bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC lifted its position in GameStop by 0.5% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 92,197 shares of the company's stock valued at $1,851,000 after acquiring an additional 463 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of GameStop by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 131,002 shares of the company's stock worth $3,574,000 after purchasing an additional 578 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of GameStop by 4.5% during the fourth quarter. Panagora Asset Management Inc. now owns 13,692 shares of the company's stock worth $275,000 after purchasing an additional 594 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of GameStop by 14.5% during the 4th quarter. UMB Bank n.a. now owns 4,694 shares of the company's stock valued at $94,000 after purchasing an additional 595 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of GameStop by 9.4% during the 2nd quarter. Rakuten Securities Inc. now owns 7,572 shares of the company's stock valued at $185,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 29.21% of the company's stock.

GameStop Company Profile

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.

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