The Vanguard Group, Inc. has recently announced that it has increased stake in Gamestop Corporation (NYSE:GME) by 1.33%. After grabbing 24.9 million shares, the institutional investor is now in possession of 0.33 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 8.16% having worth around $362.28 million. Moreover, BlackRock Fund Advisors increased its share by 1.06 million to have a control over 21.08 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.26 million shares by acquiring 7.72 million shares or 2.53% of the stake.
Gamestop Corporation (GME) concluded trading on 12/27/23 at a closing price of $18.37, with 4.72 million shares of worth about $86.79 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -26.46% during that period and on Wednesday the price saw a gain of about 5.82%. Currently the company’s common shares owned by public are about 304.60M shares, out of which, 266.26M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the GME stock and their offered price forecasts bring an average price target of $11.95. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $6.00. The stock’s current price level is -53.72% below of average price target set by the analysts, while a dip to estimated low would result in loss of -206.17% for the stock. However, touching the estimated high of $15.00 would mean a loss of -22.47% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 22 times over the past 12 months. They bought 535,871 shares in 14 of the transactions. In 8 selling transactions, insiders dumped 150,817 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Gamestop Corporation iShares Core S&P Mid Cap ETF is currently holding 8.27 million shares of worth totaling $120.37 million. The company recently came buying 1468.0 shares which brought its stake up to 2.71% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 11293.0 shares, after which its hold over company’s outstanding shares expand to 2.65%, leaving 8.1 million shares with the mutual fund that have a worth of about $117.88 million. Vanguard Small Cap Index Fund, after buying 6.71 million shares, have now control over 2.20% of the stake in the company. It holds 31460.0 shares of worth $97.68 million.
Gamestop Corporation (NYSE: GME) started trading at $17.43, above $0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 18.37, or with a gain of 5.82%. Stock saw a price change of 3.67% in past 5 days and over the past one month there was a price change of 54.24%. Year-to-date (YTD), GME shares are showing a performance of -0.49% which decreased to -8.52% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.82 but also hit the highest price of $27.65 during that period. The average intraday trading volume for Gamestop Corporation shares is 6.16 million. The stock is currently trading 13.49% above its 20-day simple moving average (SMA20), while that difference is up 27.76% for SMA50 and it goes to -3.80% lower than SMA200.
The Vanguard Group, Inc. acquired 24.9 million shares of Gamestop Corporation having value of about $362.28 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.33 million shares in the company valued at close to $5999807.33, or have control over 1.33% stake in the company. Gamestop Corporation (NYSE: GME) currently have 304.60M outstanding shares and institutions hold larger chunk of about 28.58% of that. Holding of mutual funds in the company is about 3.91% while other institutional holders and individual stake holders have control over 8.67% and 20.03% of the stake respectively.
The stock has a current market capitalization of $5.61B and its 3Y-monthly beta is at -0.48. It has posted earnings per share of -$0.03 in the same period. It has Quick Ratio of 0.94 while making debt-to-equity ratio of 0.49. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GME, volatility over the week remained 5.43% while standing at 9.26% over the month.
Analysts are in expectations that Gamestop Corporation (GME) stock would likely to be making an EPS of $0.28 in the current quarter, while forecast for next quarter EPS is -$0.06 and it is $0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.24 which is $0.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 110.78% while it is estimated to increase by 27.27% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Gamestop Corporation (GME)’s stock and average of those rates the stock at a “Moderate Sell” and assign it a score of 4.00. Out of those 2 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wedbush on June 08, 2023 offering an Underperform rating for the stock and assigned a target price range of between $6.50 and $6.20 to it.
