GameStop (NYSE:GME) Shares Up 6.2%

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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 were traded during 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. Wedbush lowered their price target on GameStop from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Benchmark lowered their price target on GameStop from $5.00 to $3.00 and set a “sell” rating on the stock in a report on Wednesday, September 11th. They noted that the move was a valuation call. Loop Capital set a $4.00 price target on GameStop and gave the company a “hold” rating in a report on Thursday, September 12th. Bank of America lowered their price target on GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a report on Tuesday, August 20th. Finally, ValuEngine upgraded GameStop from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.35.

The stock has a market cap of $391.68 million, a price-to-earnings ratio of 2.20 and a beta of 0.36. 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 business has a 50-day moving average of $3.91 and a 200-day moving average of $6.81.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.05 EPS. Equities analysts anticipate that GameStop Corp. will post 1.11 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of GameStop by 1.4% in the second quarter. BlackRock Inc. now owns 15,409,457 shares of the company’s stock worth $84,290,000 after buying an additional 219,884 shares during the last quarter. FMR LLC lifted its position in shares of GameStop by 0.6% during the 1st quarter. FMR LLC now owns 15,295,131 shares of the company’s stock worth $155,398,000 after purchasing an additional 93,245 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of GameStop by 905.9% during the 2nd 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 acquired a new position in shares of GameStop during the 2nd quarter worth about $16,116,000. Finally, JPMorgan Chase & Co. lifted its position in shares of GameStop by 627.0% during the 1st 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 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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