BlackRock Fund Advisors recently announced the acquisition of new stake in GameStop Corp. (NYSE:GME). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.96% to 9.92 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 15.31% valued currently at $39.76 million. In addition, Fidelity Management & Research Co.. raised its holdings by 1956.0 to 9.53 million shares.
With over 4.16 million GameStop Corp. (GME) shares trading Friday and a closing price of $5.39 on the day, the dollar volume was approximately $22.43 million. The shares have shown a positive weekly performance of 7.16% and its price on 08/28/20 gained nearly 2.67%. Currently, there are 64.50M common shares owned by the public and among those 54.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for GME have a consensus price objective of $4.12. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $1.60 should the stock experience a downside. Incidentally, analysts’ outlook for the GameStop Corp. stock is 3.30 for the next 12 months. The average price target is -30.83% below its last price level and a downside to the estimated low will see the stock lose -236.87% over that period. But an upside of 10.17% will see the stock hit the forecast high price target while mean target price for the stock is $4.00.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 2,437,201 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 252,950 shares.
The top 3 mutual fund holders in GameStop Corp. are Fidelity Series Intrinsic Opportu, iShares Core S&P Small Cap ETF, and Fidelity Low Priced Stock Fund. Fidelity Series Intrinsic Opportu owns 6.98 million shares of the company’s stock, all valued at over $27.98 million. iShares Core S&P Small Cap ETF bought 14616.0 shares to see its total holdings expand to 4.09 million shares valued at over $16.4 million and representing 6.31% of the shares outstanding. Fidelity Low Priced Stock Fund sold 2168.0 shares to bring its total holdings to over 2.04 million shares at a value of $8.19 million. Fidelity Low Priced Stock Fund now owns shares totaling to 3.15% of the shares outstanding.
Shares of GameStop Corp. (NYSE: GME) opened at $5.30, up $0.05 from a prior closing price of $5.25. However, the script later closed the day at $5.39, up 2.67%. The company’s stock has a 5-day price change of 7.16% and 30.51% over the past three months. GME shares are trading -11.35% year to date (YTD), with the 12-month market performance up to 27.42% higher. It has a 12-month low price of $2.57 and touched a high of $6.92 over the same period. Currently, 4.16 million shares have been traded, compared to an average intraday trading volume of 3.65 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.65%, 22.15%, and 15.05% respectively.
Institutional ownership of GameStop Corp. (NYSE: GME) shares accounts for 95.00% of the company’s 64.50M shares outstanding. Mutual fund holders own 58.97%, while other institutional holders and individual stakeholders account for 64.02% and 20.68% respectively.
It has a market capitalization of $340.00M and a beta (3y monthly) value of 1.18. The earnings-per-share (ttm) stands at -$7.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.01% over the week and 8.04% over the month.
Analysts forecast that GameStop Corp. (GME) will achieve an EPS of -$1.17 for the current quarter, -$0.64 for the next quarter and $0.02 for 2022. The lowest estimate earnings-per-share for the quarter is -$1.9 while analysts give the company a high EPS estimate of -$0.74. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to increase by 33.70%, and 101.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate GameStop Corp. (GME) as a “Hold” at a consensus score of 3.30. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the GME, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Market Perform rating for the stock in a research note on June 10, 2020, with the firm’s price target at $4.50-$6. Wedbush coverage for the GameStop Corp. (GME) stock in a research note released on March 20, 2020 offered a Neutral rating with a price target of $4.25. Telsey Advisory Group was of a view on November 04, 2019 that the stock is Market Perform, while BofA/Merrill gave the stock Underperform rating on August 20, 2019, issuing a price target of $4- $2.50. The Benchmark Company on their part issued Sell rating on June 05, 2019.