Revenue Update on GameStop Corp.(NYSE:GME)

GameStop Corp.(NYSE:GME) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Mar 23, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $2.38.

In a different note, On Mar 13, 2017, Telsey Advisory Group said it Downgrades its rating on GameStop Corp.. According to the research note, Telsey Advisory Group Lowers the price target to $27 per share from a prior target of $28. The shares have been rated ‘Market Perform’ by the firm. On Dec 29, 2016, Standpoint Research said it Upgrades its rating on GameStop Corp.. The shares have been rated ‘Buy’ by the firm.

GameStop Corp. (GME) shares turned negative on Fridays trading session with the shares closing down -3.26 points or -13.61% at a volume of 1,59,44,566. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $21.56. The peak price level was also seen at $21.56 while the days lowest was $20.66. Finally the shares closed at $20.7. The 52-week high of the shares is $33.72 while the 52-week low is $20.1. According to the latest information available, the market cap of the company is $2,109 M.

Several Insider Transactions has been reported to the SEC. On Jan 17, 2017, Stephanie M Shern (director) sold 4,000 shares at $22.58 per share price.Also, On Sep 16, 2016, Michael Mauler (EVP – President International) purchased 10,000 shares at $26.91 per share price.On Dec 2, 2015, Steven R Koonin (director) sold 1,250 shares at $35.39 per share price, according to the Form-4 filing with the securities and exchange commission.

GameStop Corp. is a multichannel video game consumer electronics and wireless services retailer. The Company operates its business in four Video Game Brands segments: United States Canada Australia and Europe and a Technology Brands segment. The Video Game Brands segments include 6206 stores 4138 of which are included in the United States segment. There are 331 421 and 1316 stores in the Canadian Australian and European segments respectively. Each of the Video Game Brands segments consists primarily of retail operations with all stores engaged in the sale of video game systems software and accessories. Its Video Game Brands stores sell various types of digital products including downloadable content network points cards and prepaid digital among others. They also carry mobile and consumer electronics products which consist primarily of mobile devices tablets and related accessories. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses.

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