In yesterday’s Wall Street session, GameStop Corp. (NYSE:GME) shares traded at $18.33, up 2.92% from the previous session.
GME stock price is now -10.21% away from the 50-day moving average and -13.30% away from the 200-day moving average. The market capitalization of the company currently stands at $5.97B.
With the price target reduced from $6.50 to $6.20, Wedbush maintained Underperform rating for GameStop Corp. (NYSE: GME).
In other news, Cheng Lawrence, Director bought 1,232 shares of the company’s stock on Sep 11. The stock was bought for $21,819 at an average price of $17.71. Upon completion of the transaction, the Director now directly owns 55,088 shares in the company, valued at $1.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 08, Director Attal Alain bought 15,000 shares of the business’s stock. A total of $266,700 was incurred on buying the stock at an average price of $17.78. This leaves the insider owning 562,464 shares of the company worth $10.31 million. Insiders disposed of 135,292 shares of company stock worth roughly $2.48 million over the past 1 year. A total of 12.86% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GME stock. A new stake in GameStop Corp. shares was purchased by NORGES BANK during the first quarter worth $19,371,000. ALYESKA INVESTMENT GROUP, L.P. invested $8,373,000 in shares of GME during the first quarter. In the first quarter, MASON CAPITAL MANAGEMENT LLC acquired a new stake in GameStop Corp. valued at approximately $8,172,000. SQUAREPOINT OPS LLC acquired a new stake in GME for approximately $5,453,000. GROUP ONE TRADING, L.P. purchased a new stake in GME valued at around $1,723,000 in the second quarter. In total, there are 349 active investors with 26.00% ownership of the company’s stock.
On Thursday morning GameStop Corp. (NYSE: GME) stock kicked off with the opening price of $17.80. During the past 12 months, GameStop Corp. has had a low of $15.41 and a high of $34.99. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 1.90, and a quick ratio of 1.20. The fifty day moving average price for GME is $20.30 and a two-hundred day moving average price translates $21.10 for the stock.
The latest earnings results from GameStop Corp. (NYSE: GME) was released for Jul, 2023. According to the Specialty Retail Company, earnings per share came in at -$0.03, beating analysts’ expectations of -$0.14 by 0.11. This compares to -$0.36 EPS in the same period last year. The net profit margin was -1.70% and return on equity was -7.80% for GME. The company reported revenue of $1.16 billion for the quarter, compared to $1.14 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.45 percent. For the current quarter, analysts expect GME to generate $1.18B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/29/2019. Investors who held shares on 03/15/2019 were paid a $0.38 dividend.
GameStop Corp.(GME) 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. It also sells collectibles comprising apparel, toys, trading cards, gadgets, and other retail products for pop culture and technology enthusiasts, as well as engages in the digital asset wallet and NFT marketplace activities. The company operates stores and ecommerce sites under the GameStop, EB Games, and Micromania brands; and pop culture themed stores that sell collectibles, apparel, gadgets, electronics, toys, and other retail products under the Zing Pop Culture brand, as well as offers Game Informer magazine, a print and digital gaming publication. The company was formerly known as GSC Holdings Corp. GameStop Corp. was founded in 1996 and is headquartered in Grapevine, Texas.
