GameStop (NYSE:GME) Price Target Raised to $7.00 at Wedbush

GameStop (NYSE:GME - Get Free Report) had its price objective upped by research analysts at Wedbush from $5.60 to $7.00 in a report issued on Friday, Benzinga reports. The firm currently has an "underperform" rating on the stock. Wedbush's price objective indicates a potential downside of 68.51% from the stock's current price.

Separately, StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research note on Wednesday, March 27th.

GameStop Stock Performance

Shares of GME traded down $5.44 during trading hours on Friday, hitting $22.23. The company had a trading volume of 95,647,271 shares, compared to its average volume of 12,739,826. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 1,112.06 and a beta of -0.25. The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $14.71 and a 200-day moving average of $14.72. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. The company's revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the business earned $0.16 earnings per share. Equities analysts anticipate that GameStop will post 0.01 EPS for the current fiscal year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 13,471 shares of the business's stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the transaction, the general counsel now owns 50,837 shares of the company's stock, valued at $515,995.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the company's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Cheng acquired 10,000 shares of GameStop stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The disclosure for this purchase can be found here. Insiders have sold 27,421 shares of company stock valued at $288,153 over the last ninety days. 12.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GME. Fifth Third Bancorp increased its position in GameStop by 175.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company's stock valued at $47,000 after acquiring an additional 1,819 shares during the period. Headlands Technologies LLC acquired a new position in GameStop during the 4th quarter worth about $55,000. First United Bank & Trust bought a new stake in shares of GameStop in the 4th quarter valued at about $70,000. Russell Investments Group Ltd. increased its stake in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company's stock valued at $65,000 after buying an additional 3,025 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of GameStop during the fourth quarter worth about $176,000. 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.