GameStop (NYSE:GME) Stock Price Up 10.5%

GameStop Corp. (NYSE:GMEGet Rating)’s stock price rose 10.5% on Monday . The stock traded as high as $21.70 and last traded at $21.67. Approximately 2,492,260 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 4,948,719 shares. The stock had previously closed at $19.61.

Analyst Ratings Changes

GME has been the subject of several research analyst reports. Wedbush lowered their price objective on shares of GameStop from $6.00 to $5.30 and set an “underperform” rating for the company in a research note on Thursday, December 8th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Thursday, January 5th.

GameStop Price Performance

The firm’s 50-day moving average is $21.76 and its 200-day moving average is $27.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91.

GameStop (NYSE:GMEGet Rating) last posted its quarterly earnings data on Wednesday, December 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.35 billion. GameStop had a negative return on equity of 35.44% and a negative net margin of 8.54%. GameStop’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. On average, sell-side analysts expect that GameStop Corp. will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in GME. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GameStop by 23.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock worth $382,000 after buying an additional 439 shares during the last quarter. Citigroup Inc. raised its stake in GameStop by 4.3% in the 1st quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock valued at $3,136,000 after acquiring an additional 777 shares during the period. PNC Financial Services Group Inc. raised its stake in GameStop by 21.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock valued at $390,000 after acquiring an additional 421 shares during the period. Great West Life Assurance Co. Can raised its stake in GameStop by 5.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock valued at $5,759,000 after acquiring an additional 1,854 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in GameStop by 56.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock valued at $2,108,000 after acquiring an additional 4,548 shares during the period. 25.57% of the stock is owned by hedge funds and other institutional investors.

About GameStop

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.

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