GameStop's (GME) Underperform Rating Reaffirmed at Wedbush

Wedbush restated their underperform rating on shares of GameStop (NYSE:GME - Free Report) in a report issued on Wednesday,Benzinga reports. Wedbush currently has a $13.50 price objective 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 note on Thursday, March 27th.

GameStop Stock Up 2.4%

GameStop stock traded up $0.53 during mid-day trading on Wednesday, hitting $22.67. 16,315,031 shares of the company's stock were exchanged, compared to its average volume of 12,609,857. GameStop has a fifty-two week low of $18.73 and a fifty-two week high of $35.81. The firm has a market capitalization of $10.14 billion, a P/E ratio of 125.69 and a beta of -0.69. The company's 50 day simple moving average is $27.98 and its 200-day simple moving average is $27.41.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.13. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $732.40 million during the quarter, compared to analyst estimates of $754.23 million. During the same period in the prior year, the business earned ($0.12) EPS. The company's revenue for the quarter was down 16.9% compared to the same quarter last year. Research analysts expect that GameStop will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Alain Attal bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the transaction, the director now directly owns 572,464 shares of the company's stock, valued at approximately $14,740,948. The trade was a 1.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence Cheng acquired 5,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $21.54 per share, for a total transaction of $107,700.00. Following the acquisition, the director now directly owns 83,000 shares of the company's stock, valued at approximately $1,787,820. This trade represents a 6.41% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 515,000 shares of company stock valued at $11,140,200 in the last 90 days. Corporate insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On GameStop

A number of institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after purchasing an additional 684 shares in the last quarter. Bessemer Group Inc. increased its holdings in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock worth $54,000 after buying an additional 691 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock worth $67,000 after purchasing an additional 520 shares during the period. UMB Bank n.a. lifted its position in shares of GameStop by 100.6% during the 1st quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock valued at $81,000 after buying an additional 1,831 shares during the last quarter. Finally, US Bancorp DE grew its stake in GameStop by 92.5% in the 1st quarter. US Bancorp DE now owns 3,726 shares of the company's stock valued at $83,000 after buying an additional 1,790 shares in the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

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.