GameStop (NYSE:GME)‘s stock had its “sell” rating reaffirmed by analysts at Benchmark in a research note issued to investors on Wednesday, June 5th, Marketbeat Ratings reports. They presently have a $5.00 price objective on the stock, down from their prior price objective of $9.00. Benchmark’s target price suggests a potential downside of 8.59% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Wedbush decreased their price objective on GameStop from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Loop Capital decreased their price objective on GameStop to $8.00 and set a “hold” rating for the company in a research report on Monday, June 3rd. They noted that the move was a valuation call. ValuEngine lowered GameStop from a “sell” rating to a “strong sell” rating in a research report on Monday, June 3rd. Bank of America decreased their price objective on GameStop from $9.00 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research downgraded GameStop from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.20.
GME stock traded down $0.07 during trading hours on Wednesday, hitting $5.47. 3,893,425 shares of the stock traded hands, compared to its average volume of 4,680,858. The firm has a 50-day moving average of $6.79. GameStop has a one year low of $4.71 and a one year high of $17.27. The firm has a market capitalization of $559.41 million, a P/E ratio of 2.56 and a beta of 0.65. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79.
Hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund bought a new position in shares of GameStop in the 4th quarter valued at approximately $39,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of GameStop in the 1st quarter valued at approximately $51,000. Investors Research Corp bought a new position in shares of GameStop in the 1st quarter valued at approximately $55,000. Everence Capital Management Inc. bought a new position in GameStop in the 1st quarter worth approximately $111,000. Finally, Magnus Financial Group LLC bought a new position in GameStop in the 1st quarter worth approximately $111,000. 98.68% of the stock is currently owned by institutional investors and hedge funds.
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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