What Next for GameStop Corp. (GME) Stock After Making 1 Year Low?

March 21, 2018 - By Maria Brooks

Investors sentiment decreased to 1.07 in Q3 2017. Its down 0.11, from 1.18 in 2017Q2. It turned negative, as 37 investors sold GameStop Corp. shares while 83 reduced holdings. 35 funds opened positions while 93 raised stakes. 100.21 million shares or 1.31% less from 101.54 million shares in 2017Q2 were reported.
Geode Cap Management Ltd Liability Company invested 0.01% of its portfolio in GameStop Corp. (NYSE:GME). Fifth Third Bancorporation stated it has 3,568 shares. Landscape Cap Mngmt Lc holds 0.23% or 112,871 shares. Balyasny Asset Mgmt Ltd reported 0.01% in GameStop Corp. (NYSE:GME). Arizona State Retirement System reported 57,437 shares. Goldman Sachs Group reported 2.03M shares or 0.01% of all its holdings. 81,662 are owned by Comerica Bancshares. Hsbc Public Limited Liability holds 0% or 32,665 shares. New York State Common Retirement Fund accumulated 0.01% or 278,400 shares. Old Mutual Customised Solutions (Proprietary) has invested 0.01% in GameStop Corp. (NYSE:GME). Metropolitan Life Insurance Ny reported 95,213 shares. Carret Asset Mgmt Lc has invested 0.03% of its portfolio in GameStop Corp. (NYSE:GME). Mutual Of America Cap Mgmt Ltd Llc invested 0.03% in GameStop Corp. (NYSE:GME). Arbiter Prtnrs Capital Limited Co holds 0.4% of its portfolio in GameStop Corp. (NYSE:GME) for 172,453 shares. Alliancebernstein Lp owns 75,023 shares for 0% of their portfolio.

The stock of GameStop Corp. (NYSE:GME) hit a new 52-week low and has $13.60 target or 4.00 % below today’s $14.17 share price. The 6 months bearish chart indicates high risk for the $1.44B company. The 1-year low was reported on Mar, 21 by Barchart.com. If the $13.60 price target is reached, the company will be worth $57.40M 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.

The stock decreased 2.07% or $0.3 during the last trading session, reaching $14.17. About 2.11 million shares traded. GameStop Corp. (NYSE:GME) has declined 15.17% since March 21, 2017 and is downtrending. It has underperformed by 31.87% the S&P500.

Analysts await GameStop Corp. (NYSE:GME) to report earnings on March, 28 after the close. They expect $1.96 earnings per share, down 17.65 % or $0.42 from last year’s $2.38 per share. GME’s profit will be $198.49M for 1.81 P/E if the $1.96 EPS becomes a reality. After $0.54 actual earnings per share reported by GameStop Corp. for the previous quarter, Wall Street now forecasts 262.96 % EPS growth.

GameStop Corp. (NYSE:GME) Ratings Coverage

Among 20 analysts covering GameStop Corp. (NYSE:GME), 11 have Buy rating, 1 Sell and 8 Hold. Therefore 55% are positive. GameStop Corp. had 74 analyst reports since August 6, 2015 according to SRatingsIntel. Macquarie Research initiated it with “Outperform” rating and $36 target in Friday, July 1 report. Zacks downgraded GameStop Corp. (NYSE:GME) on Thursday, August 6 to “Buy” rating. The stock of GameStop Corp. (NYSE:GME) has “Buy” rating given on Wednesday, August 23 by Robert W. Baird. The rating was initiated by Loop Capital with “Buy” on Wednesday, December 7. The rating was maintained by Oppenheimer with “Hold” on Friday, August 25. The stock of GameStop Corp. (NYSE:GME) has “Buy” rating given on Tuesday, January 17 by Mizuho. The firm has “Hold” rating given on Tuesday, June 20 by Oppenheimer. Telsey Advisory Group maintained GameStop Corp. (NYSE:GME) rating on Tuesday, November 24. Telsey Advisory Group has “Market Perform” rating and $42 target. Credit Suisse maintained the shares of GME in report on Monday, March 28 with “Neutral” rating. The stock has “Neutral” rating by Bank of America on Friday, March 24.

GameStop Corp. operates as an omnichannel video game retailer. The company has market cap of $1.44 billion. It sells new and pre-owned video game hardware; video game software; pre-owned and value video game products; video game accessories, such as controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, including downloadable content, network points cards, prepaid digital and subscription cards, and digitally downloadable software. It has a 4.13 P/E ratio. The firm also sells mobile and consumer electronics, including wireless services and products, and accessories, as well as new and pre-owned smart phones; personal computer entertainment software in various genres, including sports, action, strategy, adventure/role playing, and simulation; and strategy guides, magazines, and interactive game figures.

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