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

GameStop Corp. (NYSE:GME) 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.

Analysts Set New Price Targets

GME has been the subject of a number of recent research reports. Wedbush lowered their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

GameStop Price Performance

The company has a market capitalization of $3.31 billion, a P/E ratio of 550.78 and a beta of -0.45. 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 fifty day moving average price of $13.93 and a 200 day moving average price of $14.60.

GameStop (NYSE:GME) last issued its 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). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. GameStop’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 earnings per share. On average, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the sale, the general counsel now owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.64% of the stock is currently owned by insiders.

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in GME. Cambridge Investment Research Advisors Inc. boosted its position in shares of GameStop by 23.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock valued at $382,000 after purchasing an additional 439 shares during the period. Citigroup Inc. lifted its position 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. boosted 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 buying an additional 421 shares during the period. Great West Life Assurance Co. Can grew its holdings 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 acquiring an additional 1,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of GameStop by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock worth $2,108,000 after acquiring an additional 4,548 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Company Profile

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.