The stock of GameStop Corp. (NYSE:GME) hit a new 52-week low and has $21.25 target or 9.00% below today’s $23.35 share price. The 9 months bearish chart indicates high risk for the $2.44B company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $21.25 price target is reached, the company will be worth $219.60 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.28M shares traded hands. GameStop Corp. (NYSE:GME) has declined 24.28% since March 30, 2016 and is downtrending. It has underperformed by 27.29% the S&P500.
GameStop Corp. (NYSE:GME) Ratings Coverage
Out of 15 analysts covering GameStop Corp. (NYSE:GME), 10 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 67% are positive. GameStop Corp. has been the topic of 41 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Benchmark given on Friday, May 27. The stock of GameStop Corp. (NYSE:GME) earned “Outperform” rating by Telsey Advisory Group on Monday, June 27. On Wednesday, January 13 the stock rating was maintained by Wedbush with “Outperform”. The firm has “Outperform” rating given on Friday, July 1 by Macquarie Research. As per Tuesday, November 24, the company rating was maintained by Benchmark. The stock of GameStop Corp. (NYSE:GME) earned “Market Perform” rating by Telsey Advisory Group on Friday, August 28. Benchmark maintained GameStop Corp. (NYSE:GME) on Monday, March 28 with “Sell” rating. The stock of GameStop Corp. (NYSE:GME) earned “Buy” rating by Robert W. Baird on Wednesday, August 26. The rating was downgraded by Pacific Crest to “Sector Weight” on Friday, November 13. The stock has “Outperform” rating given by Robert W. Baird on Friday, August 26.
According to Zacks Investment Research, “GameStop Corp. is the world’s largest video game and entertainment software retailer. The company operates 4,816 retail stores across the United States and in fifteen countries worldwide. The company also operates two e-commerce sites, GameStop.com and EBgames.com, and publishes Game InformerÂ® magazine, a leading multi-platform video game publication. GameStop Corp. sells new and used video game software, hardware and accessories for next generation video game systems from Sony, Nintendo, and Microsoft. In addition, the company sells PC entertainment software, related accessories and other merchandise.”
Insitutional Activity: The institutional sentiment decreased to 0.64 in Q2 2016. Its down 0.29, from 0.93 in 2016Q1. The ratio fall, as 108 funds sold all GameStop Corp. shares owned while 120 reduced positions. 39 funds bought stakes while 107 increased positions. They now own 107.16 million shares or 15.47% less from 126.78 million shares in 2016Q1.
Brandywine Glob Investment Mgmt Limited Liability Corporation holds 36,269 shares or 0.01% of its portfolio. Moreover, Ameriprise Finance Incorporated has 0% invested in GameStop Corp. (NYSE:GME) for 279,466 shares. Ameritas Investment Prtnrs Inc accumulated 0.03% or 16,436 shares. Buckhead Cap Limited Liability Corp accumulated 10,054 shares or 0.05% of the stock. Texas Yale Cap last reported 0.04% of its portfolio in the stock. Freestone Capital Holding Limited Liability last reported 0.06% of its portfolio in the stock. Steadfast Capital Management Lp reported 427,446 shares or 0.29% of all its holdings. Great West Life Assurance Can last reported 34,792 shares in the company. Bnp Paribas Inv Prtnrs Sa holds 0.03% of its portfolio in GameStop Corp. (NYSE:GME) for 147,349 shares. Aperio Group Incorporated Ltd Co holds 0.03% or 123,725 shares in its portfolio. Tower Rech Capital Limited Liability Corp (Trc) last reported 10,353 shares in the company. Quantbot Tech Ltd Partnership has invested 0.09% of its portfolio in GameStop Corp. (NYSE:GME). Kanaly Co holds 0% or 436 shares in its portfolio. Clinton Group Inc last reported 350,454 shares in the company. Blackrock Japan owns 12,310 shares or 0% of their US portfolio.
More recent GameStop Corp. (NYSE:GME) news were published by: Fool.com which released: “2 Signs You Should Sell GameStop Corp. Stock” on October 24, 2016. Also Investorplace.com published the news titled: “Trade of the Day: GameStop Corp. (NYSE:GME)” on November 01, 2016. Schaeffersresearch.com‘s news article titled: “Call Traders Go Wild as GameStop Corp. (GME) Nears Lows” with publication date: October 17, 2016 was also an interesting one.
GME Company Profile
GameStop Corp., incorporated on April 13, 2005, is an omnichannel video game retailer. The Firm sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Firm operates its business in four Video Game Brands divisions: United States, Canada, Australia and Europe, and Technology Brands segment. Each of the Video Game Brands divisions consists primarily of retail operations, with all stores engaged in the sale of new and pre-owned video game systems, software and accessories, which it refers to as video game products, new and pre-owned mobile devices and related accessories. The Company’s Video Game Brands stores sell various types of digital products, including downloadable content, network points cards, prepaid digital, prepaid subscription cards and digitally downloadable software, and also sell certain mobile and consumer electronics products and collectible products. The Company’s Technology Brands segment includes its Spring Mobile and Simply Mac businesses.
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