GameStop (NYSE:GME) Upgraded to Hold by StockNews.com

GameStop (NYSE:GMEGet Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Wedbush reiterated an “underperform” rating and set a $6.00 price target on shares of GameStop in a report on Thursday, November 30th.

Check Out Our Latest Stock Analysis on GameStop

GameStop Price Performance

Shares of NYSE GME traded down $0.22 during midday trading on Monday, reaching $14.43. The company’s stock had a trading volume of 2,108,374 shares, compared to its average volume of 2,925,829. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.02. GameStop has a one year low of $11.82 and a one year high of $27.65. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -480.83 and a beta of -0.42. The company has a 50 day moving average price of $14.61 and a 200 day moving average price of $15.24.

Institutional Investors Weigh In On GameStop

Institutional investors and hedge funds have recently modified their holdings of the business. C M Bidwell & Associates Ltd. acquired a new stake in shares of GameStop in the second quarter worth about $36,000. Covestor Ltd boosted its position in GameStop by 323.2% during the first quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. IFP Advisors Inc grew its holdings in GameStop by 99.7% during the third quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock valued at $45,000 after purchasing an additional 1,352 shares during the last quarter. Fifth Third Bancorp raised its position in shares of GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after purchasing an additional 1,819 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of GameStop in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 39.46% of the company’s stock.

About GameStop

(Get Free Report)

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.

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