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.
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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