Loop Capital Reiterates “$26.00” Price Target for GameStop (GME)
Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded GameStop from a hold rating to a buy rating and set a $22.00 target price on the stock in a report on Wednesday, October 25th. Vetr upgraded GameStop from a buy rating to a strong-buy rating and set a $33.36 target price on the stock in a report on Friday, September 15th. Credit Suisse Group set a $20.00 target price on GameStop and gave the stock a hold rating in a report on Saturday, November 25th. Wedbush set a $25.00 price objective on GameStop and gave the company a buy rating in a report on Thursday, November 16th. Finally, Benchmark reiterated a sell rating and issued a $15.00 price objective (down from $18.00) on shares of GameStop in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $22.42.
Shares of GameStop (NYSE:GME) traded down $2.20 during trading on Friday, hitting $17.76. The stock had a trading volume of 15,445,800 shares, compared to its average volume of 4,824,944. The firm has a market cap of $1,800.00, a PE ratio of 5.19, a P/E/G ratio of 0.36 and a beta of 1.26. GameStop has a fifty-two week low of $15.85 and a fifty-two week high of $26.68. The company has a current ratio of 1.20, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35.
In related news, Director Stephanie M. Shern sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $17.91, for a total value of $71,640.00. Following the transaction, the director now directly owns 13,474 shares in the company, valued at $241,319.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC raised its position in GameStop by 0.8% in the second quarter. HighTower Advisors LLC now owns 119,031 shares of the company’s stock valued at $2,571,000 after purchasing an additional 936 shares during the period. Carret Asset Management LLC raised its position in GameStop by 12.2% in the second quarter. Carret Asset Management LLC now owns 10,140 shares of the company’s stock valued at $219,000 after purchasing an additional 1,100 shares during the period. Victory Capital Management Inc. raised its position in GameStop by 8.1% in the second quarter. Victory Capital Management Inc. now owns 17,756 shares of the company’s stock valued at $384,000 after purchasing an additional 1,327 shares during the period. Thrivent Financial For Lutherans raised its position in GameStop by 7.5% in the second quarter. Thrivent Financial For Lutherans now owns 20,380 shares of the company’s stock valued at $440,000 after purchasing an additional 1,430 shares during the period. Finally, Advisory Services Network LLC raised its position in GameStop by 11.2% in the second quarter. Advisory Services Network LLC now owns 14,907 shares of the company’s stock valued at $322,000 after purchasing an additional 1,503 shares during the period.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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