GameStop (NYSE:GME) Reaches New 1-Year Low at $10.83

GameStop Corp. (NYSE:GME)’s stock price hit a new 52-week low on Monday . The stock traded as low as $10.83 and last traded at $10.83, with a volume of 3501358 shares traded. The stock had previously closed at $11.25.

Analyst Ratings Changes

A number of brokerages recently weighed in on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush cut their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th.

GameStop Stock Performance

The company’s fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $14.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. The stock has a market capitalization of $3.31 billion, a P/E ratio of 550.78 and a beta of -0.45.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a return on equity of 1.35% and a net margin of 0.13%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. As a group, equities analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.64% of the stock is owned by insiders.

Hedge Funds Weigh In On GameStop

A number of institutional investors and hedge funds have recently bought and sold shares of GME. PNC Financial Services Group Inc. grew its holdings in GameStop by 21.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,025 shares of the company’s stock worth $211,000 after acquiring an additional 2,105 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Wellington Management Group LLP increased its holdings in GameStop by 312.2% in the fourth quarter. Wellington Management Group LLP now owns 77,097 shares of the company’s stock valued at $1,352,000 after purchasing an additional 58,394 shares during the period. Virtu Financial LLC bought a new position in GameStop during the 4th quarter worth $316,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in GameStop by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 174,571 shares of the company’s stock worth $3,061,000 after buying an additional 14,404 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.