GameStop's (GME) Underperform Rating Reaffirmed at Wedbush

Wedbush restated their underperform rating on shares of GameStop (NYSE:GME - Free Report) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $13.50 target price on the stock. Wedbush also issued estimates for GameStop's Q2 2026 earnings at $0.19 EPS, Q3 2026 earnings at $0.15 EPS, FY2026 earnings at $0.75 EPS, 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, Q1 2028 earnings at $0.06 EPS and FY2028 earnings at $0.29 EPS.

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

GameStop Stock Up 0.2%

Shares of GME traded up $0.04 during mid-day trading on Wednesday, reaching $22.18. The company had a trading volume of 59,696,094 shares, compared to its average volume of 12,111,669. GameStop has a 52-week low of $18.73 and a 52-week high of $35.81. The stock has a market capitalization of $9.92 billion, a P/E ratio of 123.20 and a beta of -0.69. The stock has a 50 day moving average of $27.96 and a two-hundred day moving average of $27.33.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (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 revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) earnings per share. On average, sell-side analysts expect that GameStop will post 0.08 earnings per share for the current year.

Insider Activity

In other news, insider Daniel William Moore sold 1,608 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now owns 29,777 shares in the company, valued at $670,875.81. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alain Attal bought 10,000 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was purchased at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the transaction, the director now owns 572,464 shares of the company's stock, valued at approximately $14,740,948. This represents a 1.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 515,000 shares of company stock worth $11,140,200 over the last quarter. 12.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of GameStop by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company's stock valued at $113,146,000 after purchasing an additional 107,354 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of GameStop by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company's stock valued at $80,401,000 after purchasing an additional 60,673 shares during the last quarter. Swiss National Bank increased its holdings in shares of GameStop by 5.5% in the fourth quarter. Swiss National Bank now owns 834,228 shares of the company's stock valued at $26,145,000 after purchasing an additional 43,700 shares during the last quarter. Slate Path Capital LP acquired a new stake in shares of GameStop in the fourth quarter valued at approximately $60,361,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of GameStop by 37.4% in the fourth quarter. Handelsbanken Fonder AB now owns 109,900 shares of the company's stock valued at $3,444,000 after purchasing an additional 29,900 shares during the last quarter. Hedge funds and other institutional investors 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.