GameStop Corp. (NYSE:GME)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued on Monday. They currently have a $28.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 13.64% from the stock’s previous close.
The analysts wrote, “The Wedbush View: We expect shares to trade at a compressed EPS multiple until GameStop slows the decline in its core video game business.””
Several other equities analysts also recently commented on GME. Robert W. Baird reiterated an “outperform” rating and issued a $25.00 target price on shares of GameStop Corp. in a research report on Wednesday, November 23rd. Vetr cut GameStop Corp. from a “buy” rating to a “sell” rating and set a $25.08 price target for the company. in a research note on Thursday, November 24th. Benchmark Co. reissued a “sell” rating and issued a $20.11 price target (down previously from $20.67) on shares of GameStop Corp. in a research note on Tuesday, November 29th. Loop Capital initiated coverage on GameStop Corp. in a research note on Tuesday, December 6th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Mizuho initiated coverage on GameStop Corp. in a research note on Thursday, December 22nd. They issued a “buy” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. GameStop Corp. has a consensus rating of “Hold” and an average target price of $29.24.
GameStop Corp. (NYSE:GME) traded down 2.80% during trading on Monday, hitting $23.95. The stock had a trading volume of 3,540,526 shares. GameStop Corp. has a one year low of $20.10 and a one year high of $33.72. The stock has a 50 day moving average of $25.04 and a 200 day moving average of $25.23. The firm has a market capitalization of $2.44 billion, a P/E ratio of 6.37 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, March 10th. This represents a $1.52 annualized dividend and a yield of 6.17%. This is a boost from GameStop Corp.’s previous quarterly dividend of $0.37. GameStop Corp.’s dividend payout ratio (DPR) is currently 39.47%.
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In related news, Director Stephanie M. Shern sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $22.58, for a total transaction of $90,320.00. Following the completion of the sale, the director now owns 10,925 shares of the company’s stock, valued at $246,686.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake in shares of GameStop Corp. by 0.9% in the third quarter. BlackRock Advisors LLC now owns 57,938 shares of the company’s stock worth $1,599,000 after buying an additional 499 shares during the period. ARGI Investment Services LLC boosted its stake in shares of GameStop Corp. by 6.8% in the third quarter. ARGI Investment Services LLC now owns 71,854 shares of the company’s stock worth $1,982,000 after buying an additional 4,567 shares during the period. Rhumbline Advisers boosted its stake in shares of GameStop Corp. by 2.6% in the third quarter. Rhumbline Advisers now owns 174,629 shares of the company’s stock worth $4,818,000 after buying an additional 4,461 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of GameStop Corp. by 0.6% in the third quarter. Mutual of America Capital Management LLC now owns 79,358 shares of the company’s stock worth $2,189,000 after buying an additional 508 shares during the period. Finally, Meritage Portfolio Management boosted its stake in shares of GameStop Corp. by 28.0% in the third quarter. Meritage Portfolio Management now owns 172,595 shares of the company’s stock worth $4,762,000 after buying an additional 37,735 shares during the period.
About GameStop Corp.
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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