GameStop (NYSE:GME) Shares Gap Down to $4.41
GameStop Corp. (NYSE:GME)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.52, but opened at $4.41. GameStop shares last traded at $4.35, with a volume of 6,735,286 shares traded.
Several research firms have issued reports on GME. Benchmark lowered their price target on shares of GameStop from $5.00 to $3.00 and set a “sell” rating for the company in a report on Wednesday, September 11th. They noted that the move was a valuation call. Loop Capital set a $4.00 price target on shares of GameStop and gave the stock a “hold” rating in a report on Thursday. Bank of America lowered their price target on shares of GameStop from $4.00 to $2.50 and set an “underperform” rating for the company in a report on Tuesday, August 20th. Ascendiant Capital Markets lowered shares of GameStop from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Wednesday, June 5th. Finally, Wedbush lowered their price target on shares of GameStop from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. GameStop presently has a consensus rating of “Hold” and an average target price of $8.35.
The company has a market cap of $414.30 million, a price-to-earnings ratio of 2.03 and a beta of 0.36. The company has a current ratio of 1.37, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s 50-day moving average price is $3.88 and its 200 day moving average price is $6.92.
Several hedge funds have recently made changes to their positions in the company. Magnetar Financial LLC acquired a new stake in shares of GameStop during the 2nd quarter worth approximately $223,000. United Services Automobile Association grew its position in shares of GameStop by 12.4% during the 2nd quarter. United Services Automobile Association now owns 36,164 shares of the company’s stock worth $198,000 after buying an additional 4,003 shares during the period. Factorial Partners LLC grew its position in shares of GameStop by 17.8% during the 2nd quarter. Factorial Partners LLC now owns 53,000 shares of the company’s stock worth $290,000 after buying an additional 8,000 shares during the period. Voloridge Investment Management LLC grew its position in shares of GameStop by 168.5% during the 2nd quarter. Voloridge Investment Management LLC now owns 424,081 shares of the company’s stock worth $2,320,000 after buying an additional 266,155 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in shares of GameStop during the 2nd quarter worth approximately $2,642,000.
About GameStop (NYSE:GME)
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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