GameStop (NYSE:GME) Hits New 52-Week Low – Time to Sell?

GameStop Corp. (NYSE:GME)’s share price hit a new 52-week low on Friday . The stock traded as low as $20.41 and last traded at $20.6720, with a volume of 2488378 shares. The stock had previously closed at $20.96.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of GameStop in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $13.50.

GameStop Trading Down 0.3%

The company has a market cap of $9.36 billion, a price-to-earnings ratio of 28.62 and a beta of -0.99. The firm has a 50-day moving average price of $24.04 and a 200 day moving average price of $24.77. The company has a current ratio of 11.37, a quick ratio of 10.79 and a debt-to-equity ratio of 0.80.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 9th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. GameStop had a return on equity of 7.72% and a net margin of 9.41%.The company had revenue of $972.20 million for the quarter, compared to analyst estimates of $823.25 million. During the same period in the prior year, the firm posted $0.04 EPS. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 6,509 shares of GameStop stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $179,518.22. Following the completion of the sale, the insider owned 112,620 shares in the company, valued at $3,106,059.60. The trade was a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $122,703.42. Following the sale, the general counsel directly owned 112,302 shares of the company’s stock, valued at approximately $3,097,289.16. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,788 shares of company stock valued at $321,046 in the last ninety days. 8.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GameStop

A number of hedge funds have recently made changes to their positions in GME. City Holding Co. purchased a new stake in shares of GameStop during the third quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 886 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in GameStop during the second quarter worth approximately $45,000. Bessemer Group Inc. raised its stake in shares of GameStop by 39.2% in the 3rd quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock valued at $46,000 after purchasing an additional 471 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in GameStop by 1,523.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company’s stock worth $52,000 after acquiring an additional 1,996 shares during the period. 29.21% of the stock is currently owned by hedge funds and other 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.