GameStop (GME) Stock Price Down 6.1%

Shares of GameStop Corp. (NYSE:GME) were down 6.1% during trading on Monday . The stock traded as low as $15.49 and last traded at $15.52. Approximately 3,577,600 shares changed hands during trading, a decline of 19% from the average daily volume of 4,410,924 shares. The stock had previously closed at $16.52.

Several analysts have recently commented on GME shares. Wedbush reissued a “buy” rating and set a $19.00 price target on shares of GameStop in a research note on Tuesday, May 29th. Telsey Advisory Group decreased their price target on shares of GameStop from $15.00 to $14.00 and set a “market perform” rating on the stock in a research note on Friday, June 1st. Robert W. Baird reduced their price objective on shares of GameStop from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, June 1st. Benchmark reduced their price objective on shares of GameStop from $12.00 to $10.00 and set a “sell” rating on the stock in a research note on Friday, June 1st. Finally, Zacks Investment Research raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.42.

The company has a market cap of $1.58 billion, a PE ratio of 4.80 and a beta of 1.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 1.45.

GameStop (NYSE:GME) last announced its quarterly earnings data on Thursday, September 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). GameStop had a negative net margin of 0.48% and a positive return on equity of 13.78%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business posted $0.15 earnings per share. GameStop’s revenue was down 2.4% compared to the same quarter last year. equities analysts predict that GameStop Corp. will post 3.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 18th will be paid a $0.38 dividend. The ex-dividend date is Monday, September 17th. This represents a $1.52 dividend on an annualized basis and a yield of 9.49%. GameStop’s payout ratio is presently 45.51%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY raised its holdings in GameStop by 12.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 32,677 shares of the company’s stock worth $476,000 after purchasing an additional 3,496 shares during the period. Raymond James & Associates raised its holdings in GameStop by 22.0% in the second quarter. Raymond James & Associates now owns 21,982 shares of the company’s stock worth $320,000 after purchasing an additional 3,959 shares during the period. Oppenheimer & Co. Inc. raised its holdings in GameStop by 43.2% in the second quarter. Oppenheimer & Co. Inc. now owns 14,750 shares of the company’s stock worth $215,000 after purchasing an additional 4,450 shares during the period. Swiss National Bank raised its holdings in GameStop by 2.9% in the first quarter. Swiss National Bank now owns 176,482 shares of the company’s stock worth $2,227,000 after purchasing an additional 5,000 shares during the period. Finally, Eqis Capital Management Inc. raised its holdings in GameStop by 20.0% in the second quarter. Eqis Capital Management Inc. now owns 35,097 shares of the company’s stock worth $511,000 after purchasing an additional 5,844 shares during the period.

About GameStop (NYSE:GME)

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

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