GameStop (NYSE:GME) Given a $7.00 Price Target at Loop Capital

Loop Capital set a $7.00 price target on GameStop (NYSE:GME) in a report released on Monday, TipRanks reports. The brokerage currently has a hold rating on the stock.

GME has been the topic of several other reports. Jefferies Financial Group set a $12.00 target price on GameStop and gave the company a hold rating in a research report on Friday, March 22nd. Telsey Advisory Group lowered their price objective on GameStop from $11.00 to $10.00 and set a market perform rating on the stock in a research report on Wednesday, April 3rd. ValuEngine upgraded GameStop from a sell rating to a hold rating in a research report on Sunday, June 9th. Credit Suisse Group lowered their price objective on HollyFrontier from $63.00 to $61.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. Finally, Wedbush set a $9.00 price objective on GameStop and gave the company a buy rating in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $9.10.

NYSE GME traded down $0.25 on Monday, hitting $4.38. 6,360,862 shares of the company traded hands, compared to its average volume of 5,893,877. The firm has a market cap of $453.06 million, a P/E ratio of 2.05 and a beta of 0.37. The company has a quick ratio of 0.59, a current ratio of 1.48 and a debt-to-equity ratio of 0.79. The business has a 50 day simple moving average of $5.70. GameStop has a 52-week low of $4.63 and a 52-week high of $17.27.

GameStop (NYSE:GME) last released its earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.64 billion. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. GameStop’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, analysts anticipate that GameStop will post 1.49 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of GameStop by 21.2% in the first quarter. Nisa Investment Advisors LLC now owns 74,750 shares of the company’s stock valued at $759,000 after acquiring an additional 13,050 shares in the last quarter. Norges Bank bought a new stake in shares of GameStop in the fourth quarter worth about $20,351,000. Investors Research Corp bought a new stake in shares of GameStop in the first quarter worth about $55,000. Twin Tree Management LP bought a new stake in shares of GameStop in the first quarter worth about $153,000. Finally, Principal Financial Group Inc. increased its holdings in shares of GameStop by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 841,085 shares of the company’s stock worth $10,614,000 after purchasing an additional 18,545 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

About GameStop

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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Analyst Recommendations for GameStop (NYSE:GME)

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