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.
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.
Featured Story: Trade War
Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.