GameStop (NYSE:GME) Hits New 12-Month Low – What’s Next?

Shares of GameStop Corp. (NYSE:GME) hit 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 changing hands. The stock had previously closed at $18.82.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed 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, GameStop has an average rating of “Hold”.

GameStop Stock Performance

The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 14.02 and a beta of 1.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 11.91 and a current ratio of 12.40. The stock’s 50-day simple moving average is $21.48 and its two-hundred day simple moving average is $22.82.

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

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 7,085 shares of GameStop stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,562.30. Following the transaction, the insider directly owned 115,125 shares of the company’s stock, valued at $2,576,497.50. The trade was a 5.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 3,957 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.62, for a total value of $89,507.34. Following the transaction, the general counsel owned 104,190 shares of the company’s stock, valued at approximately $2,356,777.80. This trade 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 90 days, insiders have sold 18,125 shares of company stock valued at $406,587. 9.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in 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 during the period. Goldman Sachs Group Inc. increased 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 purchasing an additional 65,325 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 purchasing an additional 94,892 shares during the period. American Century Companies Inc. raised its position in shares of GameStop by 6.5% during the second quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock valued at $865,000 after buying an additional 2,162 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after buying an additional 886 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.