Loop Capital Reiterates “$28.00” Price Target for Gamestop (GME)

Loop Capital set a $28.00 target price on Gamestop (NYSE:GME) in a report issued on Thursday. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on GME. BidaskClub upgraded Gamestop from a sell rating to a hold rating in a research report on Friday, August 4th. Zacks Investment Research upgraded Gamestop from a sell rating to a hold rating in a research report on Tuesday, August 8th. Telsey Advisory Group downgraded Gamestop from an outperform rating to a market perform rating in a research report on Friday, August 11th. Oppenheimer restated a hold rating on shares of Gamestop in a report on Friday, August 25th. Finally, Robert W. Baird restated an outperform rating and issued a $24.00 target price on shares of Gamestop in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Gamestop currently has an average rating of Hold and a consensus price target of $23.47.

Shares of Gamestop (NYSE:GME) traded up $0.02 during midday trading on Thursday, reaching $18.77. The company’s stock had a trading volume of 3,831,903 shares, compared to its average volume of 5,077,835. Gamestop has a 52-week low of $15.85 and a 52-week high of $26.84. The company has a market cap of $1,901.53, a price-to-earnings ratio of 5.07, a P/E/G ratio of 0.38 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35.

Gamestop (NYSE:GME) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Gamestop had a return on equity of 16.50% and a net margin of 3.98%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. analysts predict that Gamestop will post 3.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be issued a $0.38 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.10%. Gamestop’s payout ratio is currently 44.31%.

In related news, Director Stephanie M. Shern sold 4,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $17.91, for a total transaction of $71,640.00. Following the completion of the sale, the director now directly owns 13,474 shares in the company, valued at $241,319.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. AXA raised its holdings in shares of Gamestop by 8.1% during the third quarter. AXA now owns 408,800 shares of the company’s stock worth $8,445,000 after acquiring an additional 30,600 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Gamestop by 74.5% during the third quarter. Public Employees Retirement System of Ohio now owns 56,271 shares of the company’s stock worth $1,163,000 after acquiring an additional 24,032 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Gamestop by 197.5% during the third quarter. GSA Capital Partners LLP now owns 29,388 shares of the company’s stock worth $607,000 after acquiring an additional 19,510 shares in the last quarter. Coastline Trust Co raised its holdings in shares of Gamestop by 59.5% during the third quarter. Coastline Trust Co now owns 22,360 shares of the company’s stock worth $462,000 after acquiring an additional 8,340 shares in the last quarter. Finally, First Heartland Consultants Inc. raised its holdings in shares of Gamestop by 15.9% during the third quarter. First Heartland Consultants Inc. now owns 84,896 shares of the company’s stock worth $1,754,000 after acquiring an additional 11,650 shares in the last quarter.

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Gamestop Company Profile

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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

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