Stonex Financia Begins Coverage on GameStop (NYSE:GME)

Equities researchers at Stonex Financia started coverage on shares of GameStop (NYSE:GME) in a note issued to investors on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

A number of other analysts have also issued reports on GME. Yorkville Ives initiated coverage on shares of GameStop in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $32.00 price target for the company. Wall Street Zen cut shares of GameStop from a “buy” rating to a “hold” rating in a report on Monday, September 7th. Zacks Research upgraded shares of GameStop to a “hold” rating in a research report on Friday, October 16th. Finally, Weiss Ratings raised GameStop from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, GameStop currently has an average rating of “Moderate Buy” and an average price target of $32.00.

GameStop Price Performance

NYSE:GME opened at $24.38 on Monday. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 16.04 and a beta of 1.65. The company has a current ratio of 8.72, a quick ratio of 8.07 and a debt-to-equity ratio of 0.68. GameStop has a 12-month low of $17.79 and a 12-month high of $28.30. The company’s 50-day moving average is $23.16 and its two-hundred day moving average is $22.68.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The company had revenue of $790.20 million for the quarter, compared to the consensus estimate of $756.85 million. During the same quarter last year, the firm posted $0.31 earnings per share. GameStop’s revenue was down 18.7% on a year-over-year basis. Research analysts expect that GameStop will post 1.09 EPS for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, CEO Ryan Cohen acquired 844,130 shares of GameStop stock in a transaction that occurred on Tuesday, October 13th. The stock was purchased at an average cost of $26.98 per share, with a total value of $22,774,627.40. Following the purchase, the chief executive officer owned 42,492,652 shares in the company, valued at approximately $1,146,451,750.96. The trade was a 2.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Robinson sold 3,882 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $25.42, for a total transaction of $98,680.44. Following the sale, the general counsel owned 93,012 shares of the company’s stock, valued at approximately $2,364,365.04. This represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have acquired 4,232,772 shares of company stock valued at $98,994,742 and have sold 33,955 shares valued at $870,667. 9.50% of the stock is owned by insiders.

Institutional Trading of GameStop

Several large investors have recently modified their holdings of the company. Wealthfront Advisers LLC increased its position in GameStop by 3.2% during the first quarter. Wealthfront Advisers LLC now owns 25,935 shares of the company’s stock worth $598,000 after acquiring an additional 800 shares during the period. KBC Group NV raised its stake in GameStop by 12.9% during the 1st quarter. KBC Group NV now owns 13,024 shares of the company’s stock valued at $300,000 after purchasing an additional 1,489 shares during the last quarter. State of Michigan Retirement System boosted its position in GameStop by 1.8% during the first quarter. State of Michigan Retirement System now owns 99,200 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,800 shares during the last quarter. Kestra Advisory Services LLC boosted its position in GameStop by 11.3% during the first quarter. Kestra Advisory Services LLC now owns 18,359 shares of the company’s stock valued at $423,000 after purchasing an additional 1,863 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in GameStop by 805.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after purchasing an additional 2,014 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

About GameStop

GameStop Corp. is a specialty retailer focused on video games, gaming hardware, accessories, and related entertainment products. Its merchandise includes new and pre-owned video game consoles and software, controllers, headsets, collectibles, toys, apparel, and trading cards. The company sells through its retail stores and e-commerce channels and also offers trade-in services for eligible games, devices, and accessories.

GameStop serves customers primarily in the United States, Canada, and Australia, with its physical-store network complemented by online sales.