GameStop (NYSE:GME) Sets New 1-Year Low at $10.83

GameStop Corp. (NYSE:GME - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.83 and last traded at $10.83, with a volume of 3501358 shares changing hands. The stock had previously closed at $11.25.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GME. Wedbush reduced their price objective on shares of GameStop from $6.00 to $5.60 and set an "underperform" rating on the stock in a 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.

GameStop Price Performance

The stock has a fifty day moving average of $13.93 and a 200-day moving average of $14.60. The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 541.77 and a beta of -0.45.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. GameStop's revenue was down 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. On average, equities research analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares of the company's stock, valued at $746,615.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.64% of the company's stock.

Institutional Investors Weigh In On GameStop

Several large investors have recently modified their holdings of GME. Cambridge Investment Research Advisors Inc. raised its stake in shares of GameStop by 23.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company's stock worth $382,000 after purchasing an additional 439 shares during the last quarter. Citigroup Inc. raised its stake in shares of GameStop by 4.3% during the first quarter. Citigroup Inc. now owns 18,826 shares of the company's stock worth $3,136,000 after purchasing an additional 777 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of GameStop by 21.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company's stock worth $390,000 after purchasing an additional 421 shares during the last quarter. Great West Life Assurance Co. Can raised its position in GameStop by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company's stock worth $5,759,000 after acquiring an additional 1,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in GameStop by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company's stock worth $2,108,000 after acquiring an additional 4,548 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company's stock.

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.