Analysis: Gamestop (NYSE:GME) Target Increased Today
In an analyst research report sent to investors and clients by Suntrust Robinson on Thursday morning, the firm, Gamestop (NYSE:GME), had their target price per share lowered to $45.00. Analusts currently have a solid “Buy” rating on the stock.
From a total of 11 analysts covering GameStop Corp. (NYSE:GME) stock, 8 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $50 while the lowest target price is $28.87. The mean of all analyst targets is $41.99 with a 51.67% above today’s ($31.82) stock price. GameStop Corp. was the topic of 26 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on November 24 to “Neutral” rating. Zacks upgraded shares to “Hold” rating and $53 target share price in a report from an August 17. Oppenheimer downgraded GME stock in a recent report from November 24 to “Perform” rating. Finally, Pacific Crest downgraded the stock to “Sector Weight” rating in a report issued on a November 13.
Approximately 1.78 million shares of stock traded hands. GameStop Corp. (NYSE:GME) has declined 17.89% since May 7, 2015 and is downtrending. It has underperformed by 15.96% the S&P500.
The overall sentiment of institutions has increased to 1.13 in Q2 2015. Its up 0.16, from 0.97 in 2015Q2. The ratio improved, as 42 institutions have sold all the shares of GameStop Corp. that they owned while 148 funds have taken shares off the table. 68 funds have purchased shares for the first time while 147 added to their positions. These institutions now hold 146.48 million shares or 7.28% more than the 136.54 million shares they owned in 2015Q2.
The Fund Robotti Robert currently is holding shares equating to 4.58% of its total portfolio in GameStop Corp. representing a total of 166,820 shares. Another fund,Permit Capital Llc, is holding a total of 154,997 shares equating to 4.29% of their holdings. Additionally, Stelliam Investment Management Lp has a 2.80 million share stake in GameStop Corp. which represents 2.87% of their total portfolio. The Fund, S&T Bank Pa, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.44% of their total portfolio. Finally Paradice Investment Management Llc, a fund which is based in the state of Colorado reported a total holdings of 322,670 shares.
GameStop Corp. is a multichannel video game, consumer electronics and wireless services retailer. The company has a market cap of $3.38 billion. The Firm operates its business in four Video Game Brands divisions: United States, Canada, Australia and Europe, and a Technology Brands segment. It has 8.67 P/E ratio. The Video Game Brands divisions include 6,206 stores, 4,138 of which are included in the United States segment.
According to Zacks Investment Research, “GameStop Corp. is the world’s largest video game and entertainment software retailer. The company operates 4,816 retail stores across the United States and in fifteen countries worldwide. The company also operates two e-commerce sites, GameStop.com and EBgames.com, and publishes Game Informer? magazine, a leading multi-platform video game publication. GameStop Corp. sells new and used video game software, hardware and accessories for next generation video game systems from Sony, Nintendo, and Microsoft. In addition, the company sells PC entertainment software, related accessories and other merchandise.” Get a free copy of the Zacks research report on GameStop Corp. (GME).