GameStop (NYSE:GME) Shares Up 6.2%

Shares of GameStop Corp. (NYSE:GME) shot up 6.2% on Wednesday . The company traded as high as $4.69 and last traded at $4.60, 9,798,507 shares changed hands during mid-day trading. An increase of 73% from the average session volume of 5,656,196 shares. The stock had previously closed at $4.33.

A number of brokerages have recently weighed in on GME. Loop Capital set a $4.00 price objective on GameStop and gave the company a “hold” rating in a report on Thursday, September 12th. ValuEngine raised GameStop from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Wedbush cut their price objective on GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Bank of America cut their price objective on GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a report on Tuesday, August 20th. Finally, Ascendiant Capital Markets lowered GameStop from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Wednesday, June 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. GameStop currently has an average rating of “Hold” and a consensus target price of $8.35.

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 market cap of $398.92 million, a PE ratio of 2.15 and a beta of 0.36. The business has a 50 day moving average price of $3.90 and a 200 day moving average price of $6.85.



GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.10). GameStop had a positive return on equity of 15.38% and a negative net margin of 13.59%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned $0.05 EPS. On average, research analysts predict that GameStop Corp. will post 1.21 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of GME. Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 4,617,446 shares during the last quarter. Aristeia Capital LLC purchased a new stake in shares of GameStop in the second quarter worth about $16,116,000. 3G Capital Partners LP purchased a new stake in shares of GameStop in the second quarter worth about $13,955,000. Alpine Associates Management Inc. purchased a new stake in shares of GameStop in the second quarter worth about $13,183,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of 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 buying an additional 2,358,639 shares during the last quarter.

GameStop Company Profile (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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