GameStop Corp. (GME) – The -151.2% Downside Potential Remains

GameStop Corp. (NYSE: GME) is 66.67% higher on its value in year-to-date trading and has touched a low of $2.57 and a high of $22.35 in the current 52-week trading range. The GME stock was last observed hovering at around $19.95 in the last trading session, with the day’s gains setting it 11.45% off its average median price target of $12.50 for the next 12 months. It is also -42.73% off the consensus price target high of $22.00 offered by 8 analysts, but current levels are -1862.5% lower than the price target low of $1.60 for the same period.

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Currently trading at $31.40, the stock is 77.55% and 108.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 143.95 million and changing 57.39% at the moment leaves the stock 274.44% off its SMA200. GME registered 566.67% gain for a year compared to 6-month gain of 649.40%. The firm has a 50-day simple moving average (SMA 50) of $16.80 and a 200-day simple moving average (SMA200) of $10.13.

The stock witnessed a 135.91% loss in the last 1 month and extending the period to 3 months gives it a 164.31%, and is 71.02% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 24.45% over the week and 13.45% over the month.

GameStop Corp. (GME) has around 14000 employees, a market worth around $2.24B and $5.16B in sales. Profit margin for the company is -5.30%. Distance from 52-week low is 1121.79% and 40.49% from its 52-week high. The company has generated returns on investments over the last 12 months (-42.40%).

GameStop Corp. (GME) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for GameStop Corp. (GME) is a “Hold”. 8 analysts offering their recommendations for the stock have an average rating of 3.20, where 4 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

GameStop Corp. is expected to release its quarterly report on 04/01/2021 and quarterly earnings per share for the current quarter are estimated at $1.42 with sales reaching $2.29B over the same period.The EPS is expected to grow by 33.70% this year, but quarterly earnings will post -18.60% year-over-year. Quarterly sales are estimated to grow 4.50% in year-over-year returns.

GameStop Corp. (GME) Top Institutional Holders

286 institutions hold shares in GameStop Corp. (GME), with 19.06M shares held by insiders accounting for 27.33% while institutional investors hold 167.96% of the company’s shares. The shares outstanding are 65.20M, and float is at 50.68M. Institutions hold 122.04% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 9.53 million shares valued at $97.25 million. The investor’s holdings represent 13.67% of the GME Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 8.6 million shares valued at $87.73 million to account for 12.33% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 5.29 million shares representing 7.58% and valued at over $53.94 million, while Susquehanna International Group, LLP holds 6.37% of the shares totaling 4.44 million with a market value of $45.33 million.

GameStop Corp. (GME) Insider Activity

A total of 2 insider transactions have happened at GameStop Corp. (GME) in the last six months, with sales accounting for 0 and purchases happening 2 times. The most recent transaction is an insider purchase by Cohen Ryan, the company’s 10% Owner. SEC filings show that Cohen Ryan bought 756,089 shares of the company’s common stock on Dec 18 at a price of $15.97 per share for a total of $12.08 million. Following the purchase, the insider now owns 9.0 million shares.

GameStop Corp. disclosed in a document filed with the SEC on Dec 17 that Cohen Ryan (10% Owner) bought a total of 470,311 shares of the company’s common stock. The trade occurred on Dec 17 and was made at $14.77 per share for $6.95 million. Following the transaction, the insider now directly holds 8.24 million shares of the GME stock.

Still, SEC filings show that on Apr 17, Sherman George E Jr (Chief Executive Officer) acquired 25,000 shares at an average price of $4.52 for $0.11 million. The insider now directly holds 1,127,762 shares of GameStop Corp. (GME).

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GameStop Corp. (GME): Who are the competitors?

The company’s main competitors (and peers) include Apple Inc. (AAPL) that is trading 67.44% up over the past 12 months. Best Buy Co. Inc. (BBY) is 25.15% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.52% from the last report on Nov 29, 2020 to stand at a total of 67.98 million short shares sold with a short interest ratio of 5.78.

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