GameStop (GME) Estimates Cut To $45.00 By SunTrust, Battlefront May Deliver Holiday Pressure

GameStop Corporation

had its price target dropped by analysts at SunTrust from $50.00 to $45.00 on Thursday. SunTrust wrote in a research note issued to investors that the firm currently has a "buy" rating on the stock. SunTrust's price target is an indicator for a potential upside of 38.72 percent from GME's previous close. The company has a month low of $31.69 and a 12 month high of $47.83. GameStop's stock had traded down about 3 percent in a down market on Wednesday, possibly due to the price cut that the retailer had recently placed on its Star Wars Battlefront game. Reviews for GameStop's Star Wars Battlefront game have been mixed so far. While it was not its greatest title, SunTrust analysts are still viewing it as a main cause to cut their 4Q to the lower end of the guidance range. The price cut on Star Wars Battlefront may only be a temporary discouragement for investors, as SunTrust noted that this is only just one title by GameStop. The analysts still quite confident that another marquee 4Q name could be expected which could contribute as much as 2 percent to 3 percent of GameStop's 4Q video game business. Last month, Director Steven R. Koonin sold 1,250 shares of GameStop. The shares were sold at an average price of $35.39, for a transaction total of $44,237.50. COO Tony Bartel had sold 13,795 shares of GameStop stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $45.00. The total of the transaction was $620,775.00. GameStop's COO owns 320,003 shares in the company, valued at $14,400,135. Shares of GameStop traded down 1.588 percent on Thursday during mid-day trading, reaching $31.925. GME's stock had a trading volume of 579,787 shares. Gamestop has a market cap of $3.36 billion and a P/E ratio of 8.614.