GameStop (NYSE:GME) Sets New 52-Week Low – What’s Next?

GameStop Corp. (NYSE:GME) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $19.25 and last traded at $19.2630, with a volume of 4560683 shares changing hands. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GME shares. Wall Street Zen raised shares of GameStop from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of GameStop in a research note on Wednesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

GameStop Price Performance

The firm has a market capitalization of $8.54 billion, a PE ratio of 14.43 and a beta of 1.79. The stock has a 50-day moving average price of $21.83 and a 200 day moving average price of $22.93. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $766.63 million. During the same period in the prior year, the company posted $0.17 EPS. The business’s quarterly 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 company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 3,957 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $22.62, for a total transaction of $89,507.34. Following the transaction, the general counsel owned 104,190 shares of the company’s stock, valued at $2,356,777.80. This represents a 3.66% 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 three months, insiders sold 18,125 shares of company stock valued at $406,587. 9.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GME. Northwestern Mutual Wealth Management Co. lifted its stake in GameStop by 308.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after buying an additional 732 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 in the last quarter. Advisory Services Network LLC purchased a new stake in GameStop during the 3rd quarter worth approximately $39,000. Los Angeles Capital Management LLC purchased a new stake in GameStop during the 4th quarter worth approximately $39,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of GameStop by 805.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after acquiring an additional 2,014 shares during the last quarter. Institutional investors and hedge funds 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.