GameStop (NYSE:GME) Receives “Underperform” Rating from Wedbush

Wedbush reissued their underperform rating on shares of GameStop (NYSE:GME) in a research report report published on Wednesday morning,Benzinga reports. Wedbush currently has a $13.50 price target on the stock. Wedbush also issued estimates for GameStop’s Q2 2026 earnings at $0.19 EPS, Q3 2026 earnings at $0.15 EPS, FY2026 earnings at $0.75 EPS, Q1 2027 earnings at $0.07 EPS, Q2 2027 earnings at $0.06 EPS, Q3 2027 earnings at $0.06 EPS, Q4 2027 earnings at $0.16 EPS, FY2027 earnings at $0.36 EPS, Q1 2028 earnings at $0.06 EPS and FY2028 earnings at $0.29 EPS.

Separately, Wall Street Zen upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th.

GameStop Price Performance

Shares of GameStop stock opened at $22.18 on Wednesday. The company has a market capitalization of $9.92 billion, a PE ratio of 123.20 and a beta of -0.69. GameStop has a 1-year low of $18.73 and a 1-year high of $35.81. The business has a 50-day moving average of $27.96 and a 200-day moving average of $27.35.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.13. The business had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. On average, equities analysts expect that GameStop will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the transaction, the insider now directly owns 29,777 shares in the company, valued at $670,875.81. The trade was a 5.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alain Attal bought 10,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was bought at an average price of $25.75 per share, with a total value of $257,500.00. Following the completion of the purchase, the director now owns 572,464 shares of the company’s stock, valued at $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 515,000 shares of company stock worth $11,140,200. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in GameStop by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock valued at $113,146,000 after acquiring an additional 107,354 shares during the period. Bank of New York Mellon Corp boosted its stake in GameStop by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock valued at $80,401,000 after acquiring an additional 60,673 shares during the period. Swiss National Bank raised its holdings in shares of GameStop by 5.5% during the fourth quarter. Swiss National Bank now owns 834,228 shares of the company’s stock valued at $26,145,000 after buying an additional 43,700 shares during the last quarter. Slate Path Capital LP bought a new stake in shares of GameStop during the fourth quarter valued at approximately $60,361,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of GameStop by 37.4% during the fourth quarter. Handelsbanken Fonder AB now owns 109,900 shares of the company’s stock valued at $3,444,000 after buying an additional 29,900 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

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.