GameStop (NYSE:GME) Hits New 12-Month Low at $11.72

GameStop Corp. (NYSE:GMEGet Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.72 and last traded at $11.77, with a volume of 3474891 shares changing hands. The stock had previously closed at $12.52.

Analysts Set New Price Targets

Several research firms recently issued reports on GME. Wedbush cut their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

View Our Latest Research Report on GameStop

GameStop Price Performance

The firm has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $14.73. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 563.28 and a beta of -0.45. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GMEGet Free Report) last announced its quarterly 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 for 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 revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, analysts predict that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GameStop

Hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of GameStop by 323.2% during the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after acquiring an additional 181 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of GameStop during the 1st quarter worth about $50,000. Comerica Bank purchased a new stake in shares of GameStop during the 2nd quarter worth about $150,000. Captrust Financial Advisors boosted its stake in shares of GameStop by 457.1% during the 1st quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock worth $175,000 after acquiring an additional 864 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in GameStop in the 2nd quarter valued at about $36,000. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Company Profile

(Get Free Report)

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.

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