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

Key Points

• Wall Street Zen downgraded GameStop from “Buy” to “Hold,” while Weiss Ratings maintained its “Hold (C)” rating. MarketBeat reports a consensus “Hold” rating.
• GameStop reported stronger-than-expected quarterly results, with EPS of $0.30 versus a $0.16 estimate and revenue of $835.3 million, up 14% year over year.
• The stock opened at $18.20, with an $8.17 billion market capitalization and a 52-week range of $17.79 to $28.10. Insiders sold 18,125 shares worth about $406,587 over the past 90 days.

GameStop (NYSE:GME - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of GameStop in a research report on Wednesday, July 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, GameStop currently has a consensus rating of "Hold".

GameStop Trading Up 0.9%

NYSE:GME opened at $18.20 on Friday. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 13.79 and a beta of 1.79. GameStop has a 52 week low of $17.79 and a 52 week high of $28.10. 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 has a 50 day moving average of $20.87 and a 200 day moving average of $22.54.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. GameStop had a net margin of 20.45% and a return on equity of 13.75%. The business had revenue of $835.30 million for the quarter, compared to analyst estimates of $766.63 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business's revenue for the quarter was up 14.0% on a year-over-year basis.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 3,957 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $22.62, for a total value of $89,507.34. Following the transaction, the general counsel owned 104,190 shares in the company, valued at approximately $2,356,777.80. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of the 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 $158,562.30. Following the completion of the transaction, the insider owned 115,125 shares in the company, valued at approximately $2,576,497.50. This trade represents a 5.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 18,125 shares of company stock valued at $406,587 in the last ninety days. Corporate insiders own 9.50% of the company's stock.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of GameStop in the 2nd quarter valued at $2,578,000. Jupiter Topco LLC purchased a new position in shares of GameStop during the second quarter worth $51,000. Handelsbanken Fonder AB lifted its position in GameStop by 4.7% during the second quarter. Handelsbanken Fonder AB now owns 141,200 shares of the company's stock valued at $3,118,000 after purchasing an additional 6,300 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in GameStop during the second quarter valued at $293,000. Finally, Box Hill Private Wealth LLC acquired a new position in GameStop during the second quarter valued at $838,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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