GameStop (NYSE:GME) Reaches New 1-Year Low – Here’s What Happened

GameStop Corp. (NYSE:GMEGet Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $18.32 and last traded at $18.38, with a volume of 5711810 shares trading hands. The stock had previously closed at $18.66.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of GameStop in a research note on Wednesday, July 29th. Wall Street Zen upgraded GameStop from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, GameStop presently has a consensus rating of “Hold”.

Get Our Latest Research Report on GME

GameStop Price Performance

The firm has a market cap of $8.25 billion, a P/E ratio of 13.92 and a beta of 1.79. The firm’s fifty day simple moving average is $21.20 and its 200 day simple moving average is $22.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 11.91 and a current ratio of 12.40.

GameStop (NYSE:GMEGet Free Report) last issued its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. The firm had revenue of $835.30 million for the quarter, compared to analysts’ expectations of $766.63 million. GameStop had a return on equity of 13.75% and a net margin of 20.45%.The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 7,083 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,517.54. Following the completion of the transaction, the general counsel owned 108,147 shares in the company, valued at $2,420,329.86. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel William Moore sold 7,085 shares of GameStop stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,562.30. Following the completion of the sale, the insider directly owned 115,125 shares in the company, valued at approximately $2,576,497.50. The trade was a 5.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,125 shares of company stock valued at $406,587 in the last 90 days. 9.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in GameStop in the second quarter worth $2,578,000. Jupiter Topco LLC bought a new position in GameStop during the second quarter valued at $51,000. Handelsbanken Fonder AB lifted its position in GameStop by 4.7% during the second quarter. Handelsbanken Fonder AB now owns 141,200 shares of the company’s stock valued at $3,118,000 after purchasing an additional 6,300 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of GameStop in the 2nd quarter worth $293,000. Finally, Box Hill Private Wealth LLC purchased a new position in shares of GameStop in the 2nd quarter worth $838,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

About GameStop

(Get Free Report)

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.

Further Reading

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