GameStop (NYSE:GME – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
Separately, Wedbush restated an “underperform” rating and set a $6.00 price objective on shares of GameStop in a research report on Thursday, November 30th.
GameStop Price Performance
GME traded down $0.45 during trading on Tuesday, reaching $13.46. 2,786,124 shares of the stock were exchanged, compared to its average volume of 2,940,512. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.02. GameStop has a 1 year low of $11.82 and a 1 year high of $27.65. The business’s 50 day moving average price is $14.43 and its two-hundred day moving average price is $15.11.
Institutional Investors Weigh In On GameStop
A number of hedge funds have recently modified their holdings of GME. Vanguard Group Inc. grew its stake in GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares in the last quarter. BlackRock Inc. boosted its stake in shares of GameStop by 0.7% during the 1st quarter. BlackRock Inc. now owns 22,123,259 shares of the company’s stock worth $509,277,000 after acquiring an additional 145,855 shares during the period. State Street Corp boosted its stake in shares of GameStop by 4.3% during the 1st quarter. State Street Corp now owns 7,565,856 shares of the company’s stock worth $174,165,000 after acquiring an additional 311,487 shares during the period. Geode Capital Management LLC boosted its stake in shares of GameStop by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,774,696 shares of the company’s stock worth $91,536,000 after acquiring an additional 157,131 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of GameStop by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after acquiring an additional 289,947 shares during the period. Institutional investors and hedge funds own 39.46% of the company’s stock.
About GameStop
GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.