GameStop (NYSE:GME) has been given a $4.00 price objective by Loop Capital in a research report issued to clients and investors on Thursday, TipRanks reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price objective would suggest a potential downside of 9.30% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Bank of America dropped their price objective on GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a research report on Tuesday, August 20th. Ascendiant Capital Markets cut GameStop from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Wednesday, June 5th. Wedbush dropped their price objective on GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday. ValuEngine raised GameStop from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Benchmark dropped their price objective on GameStop from $5.00 to $3.00 and set a “sell” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $8.35.
Shares of NYSE:GME traded down $0.17 on Thursday, hitting $4.41. 7,445,998 shares of the company traded hands, compared to its average volume of 10,082,770. GameStop has a 52 week low of $3.15 and a 52 week high of $17.00. The company has a quick ratio of 0.59, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The stock has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $7.03. The company has a market cap of $414.30 million, a PE ratio of 2.06 and a beta of 0.36.
GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.10). GameStop had a negative net margin of 13.59% and a positive return on equity of 15.38%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.05 earnings per share. As a group, sell-side analysts anticipate that GameStop will post 1.21 earnings per share for the current year.
A number of large investors have recently made changes to their positions in GME. Renaissance Technologies LLC boosted its position in GameStop by 905.9% in the second quarter. Renaissance Technologies LLC now owns 5,127,146 shares of the company’s stock worth $28,045,000 after purchasing an additional 4,617,446 shares during the last quarter. Aristeia Capital LLC purchased a new position in GameStop in the second quarter worth about $16,116,000. 3G Capital Partners LP purchased a new position in GameStop in the second quarter worth about $13,955,000. Alpine Associates Management Inc. purchased a new position in GameStop in the second quarter worth about $13,183,000. Finally, JPMorgan Chase & Co. boosted its position in GameStop by 627.0% in the first quarter. JPMorgan Chase & Co. now owns 2,734,838 shares of the company’s stock worth $27,786,000 after purchasing an additional 2,358,639 shares during the last quarter.
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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