Market Runner: GameStop Corp. Has Another Very Strong Trading Session

Market Runner: GameStop Corp. Has Another Very Strong Trading Session

The stock of GameStop Corp. (NYSE:GME) is a huge mover today! About 3.55M shares traded hands or 22.84% up from the average. GameStop Corp. (NYSE:GME) has declined 25.38% since April 21, 2016 and is downtrending. It has underperformed by 30.71% the S&P500.
The move comes after 9 months positive chart setup for the $2.73B company. It was reported on Nov, 23 by Barchart.com. We have $27.88 PT which if reached, will make NYSE:GME worth $245.70M more.

GameStop Corp. (NYSE:GME) Ratings Coverage

Out of 16 analysts covering GameStop Corp. (NYSE:GME), 9 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 56% are positive. GameStop Corp. has been the topic of 45 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Robert W. Baird maintained GameStop Corp. (NYSE:GME) rating on Friday, August 26. Robert W. Baird has “Outperform” rating and $40 price target. Wedbush maintained GameStop Corp. (NYSE:GME) on Wednesday, January 13 with “Outperform” rating. The rating was downgraded by Sterne Agee CRT on Monday, January 4 to “Neutral”. The rating was maintained by Telsey Advisory Group on Friday, August 28 with “Market Perform”. The stock of GameStop Corp. (NYSE:GME) has “Neutral” rating given on Monday, March 28 by Credit Suisse. The firm earned “Buy” rating on Wednesday, August 26 by Robert W. Baird. The stock of GameStop Corp. (NYSE:GME) has “Outperform” rating given on Thursday, November 3 by Telsey Advisory Group. The rating was upgraded by Bank of America on Monday, July 11 to “Buy”. Telsey Advisory Group maintained GameStop Corp. (NYSE:GME) rating on Tuesday, November 24. Telsey Advisory Group has “Market Perform” rating and $42 price target. The rating was downgraded by Benchmark on Friday, August 28 to “Hold”.

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.”

Insitutional Activity: The institutional sentiment increased to 0.86 in Q2 2016. Its up 0.22, from 0.64 in 2016Q1. The ratio improved, as 108 funds sold all GameStop Corp. shares owned while 120 reduced positions. 39 funds bought stakes while 107 increased positions. They now own 107.16 million shares or 15.47% less from 126.78 million shares in 2016Q1.
New York State Teachers Retirement Systems accumulated 0.02% or 218,135 shares. Moreover, Cutler Cap Limited Company has 0.1% invested in GameStop Corp. (NYSE:GME) for 14,000 shares. Moreover, Janney Montgomery Scott Llc has 0% invested in GameStop Corp. (NYSE:GME) for 8,489 shares. Walleye Trading Lc owns 2,903 shares or 0% of their US portfolio. Farmers Merchants Investments holds 16 shares or 0% of its portfolio. Moreover, Goldman Sachs Gp Inc has 0.01% invested in GameStop Corp. (NYSE:GME) for 1.15M shares. Deutsche Commercial Bank Ag holds 1.62 million shares or 0.03% of its portfolio. Ubs Asset Mngmt Americas has 0.03% invested in the company for 1.04M shares. Moody Fincl Bank Division has 16,950 shares for 0.03% of their US portfolio. The New York-based Ibm Retirement Fund has invested 0.01% in GameStop Corp. (NYSE:GME). Ent Services Corp last reported 320 shares in the company. Ontario Teachers Pension Plan Board reported 20,799 shares or 0.01% of all its holdings. Ifrah Services Inc last reported 18,729 shares in the company. Asset Mngmt holds 0.33% or 61,632 shares in its portfolio. Blair William And Il accumulated 0% or 16,380 shares.

More notable recent GameStop Corp. (NYSE:GME) news were published by: Fool.com which released: “GameStop Corp. Sales Trends Improve Ahead of Critical Holiday Season” on November 23, 2016, also Reuters.com with their article: “GameStop’s holiday same-store sales forecast disappoints” published on November 22, 2016, Fool.com published: “3 Gaming Stocks That Are Better Bets Than Gamestop Corp.” on November 18, 2016. More interesting news about GameStop Corp. (NYSE:GME) were released by: Nasdaq.com and their article: “Earnings Reaction History: GameStop Corp., 54.5% Follow-Through Indicator, 14 …” published on November 22, 2016 as well as Fool.com‘s news article titled: “2 Signs You Should Sell GameStop Corp. Stock” with publication date: October 24, 2016.

GME Company Profile

GameStop Corp., incorporated on April 13, 2005, is an omnichannel video game retailer. The Firm 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 Firm operates its business in four Video Game Brands divisions: United States, Canada, Australia and Europe, and Technology Brands segment. Each of the Video Game Brands divisions consists primarily of retail operations, with all stores engaged in the sale of new and pre-owned video game systems, software and accessories, which it refers to as video game products, new and pre-owned mobile devices and related accessories. The Company’s Video Game Brands stores sell various types of digital products, including downloadable content, network points cards, prepaid digital, prepaid subscription cards and digitally downloadable software, and also sell certain mobile and consumer electronics products and collectible products. The Company’s Technology Brands segment includes its Spring Mobile and Simply Mac businesses.

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