GameStop (NYSE:GME) Reaches New 52-Week Low at $10.49

Shares of GameStop Corp. (NYSE:GME) hit a new 52-week low during trading on Monday . The company traded as low as $10.49 and last traded at $10.57, with a volume of 622741 shares. The stock had previously closed at $10.77.

Analyst Upgrades and Downgrades

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

GameStop Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The company has a market cap of $3.17 billion, a PE ratio of 518.76 and a beta of -0.45. The business has a 50 day moving average of $13.43 and a 200 day moving average of $14.29.

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

Insider Buying and Selling at GameStop

In other news, Director Lawrence Cheng acquired 10,000 shares of the stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Lawrence Cheng acquired 10,000 shares of the stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,957 shares of company stock valued at $68,971. 12.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently modified their holdings of GME. Cambridge Investment Research Advisors Inc. increased its holdings in shares of GameStop by 23.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock valued at $382,000 after acquiring an additional 439 shares in the last quarter. Citigroup Inc. increased its holdings in GameStop by 4.3% in the 1st quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock worth $3,136,000 after buying an additional 777 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of GameStop by 21.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock valued at $390,000 after purchasing an additional 421 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of GameStop by 5.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock valued at $5,759,000 after purchasing an additional 1,854 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of GameStop by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock valued at $2,108,000 after purchasing an additional 4,548 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

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.