GameStop (NYSE:GME) Sets New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

GME has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of GameStop in a research report on Wednesday, July 29th. Wall Street Zen raised shares of 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, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

GameStop Trading Up 0.5%

The stock has a market capitalization of $8.10 billion, a P/E ratio of 13.67 and a beta of 1.79. The company has a current ratio of 12.40, a quick ratio of 11.91 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $22.61.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. The company 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%.GameStop’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GME. AQR Capital Management LLC boosted its holdings in shares of GameStop by 312.2% in the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock valued at $623,000 after purchasing an additional 22,297 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of GameStop by 33.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock worth $5,851,000 after buying an additional 65,325 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of GameStop by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock worth $25,255,000 after buying an additional 94,892 shares in the last quarter. American Century Companies Inc. lifted its position in shares of GameStop by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock worth $865,000 after buying an additional 2,162 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of GameStop by 226.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after buying an additional 886 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

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.