GameStop (NYSE:GME) Sets New 1-Year Low – Time to Sell?

GameStop Corp. (NYSE:GME) shares reached a new 52-week low on Wednesday . The company traded as low as $18.44 and last traded at $18.5140, with a volume of 769202 shares traded. The stock had previously closed at $18.82.

Wall Street Analyst Weigh In

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

GameStop Stock Up 0.2%

The company has a debt-to-equity ratio of 0.71, a current ratio of 12.40 and a quick ratio of 11.91. The company has a market capitalization of $8.34 billion, a P/E ratio of 14.08 and a beta of 1.79. The stock has a 50-day moving average price of $21.34 and a 200-day moving average price of $22.76.

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

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 7,085 shares of the 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 $158,562.30. Following the transaction, the insider directly owned 115,125 shares in the company, valued at approximately $2,576,497.50. This represents a 5.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 7,083 shares of the stock in a transaction 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 transaction, the general counsel directly owned 108,147 shares in the company, valued at approximately $2,420,329.86. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 18,125 shares of company stock worth $406,587. 9.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GME. Dimensional Fund Advisors LP raised its position in shares of GameStop by 189.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock worth $90,046,000 after purchasing an additional 2,557,079 shares during the period. Renaissance Technologies LLC grew its position in GameStop by 376.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock valued at $61,063,000 after purchasing an additional 2,093,755 shares during the period. Jump Financial LLC bought a new stake in GameStop during the 4th quarter valued at $7,022,000. BNP Paribas Financial Markets increased its stake in GameStop by 233.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 355,998 shares of the company’s stock valued at $8,683,000 after purchasing an additional 249,262 shares in the last quarter. Finally, Marex Group plc raised its holdings in GameStop by 31.6% during the fourth quarter. Marex Group plc now owns 1,015,478 shares of the company’s stock worth $20,391,000 after buying an additional 243,937 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

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.