GameStop Corp. (NYSE: GME) stock fell -0.60% on Friday to $18.22 against a previous-day closing price of $18.33. With 6.15 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.81 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $18.61 whereas the lowest price it dropped to was $18.15. The 52-week range on GME shows that it touched its highest point at $34.99 and its lowest point at $15.41 during that stretch. It currently has a 1-year price target of $13.00. Beta for the stock currently stands at -0.20.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GME was up-trending over the past week, with a rise of 2.88%, but this was down by -1.99% over a month. Three-month performance dropped to -26.65% while six-month performance rose 8.71%. The stock lost -35.23% in the past year, while it has lost -1.30% so far this year. A look at the trailing 12-month EPS for GME yields -0.33 with Next year EPS estimates of -0.01. For the next quarter, that number is -0.09. This implies an EPS growth rate of 21.60% for this year and 50.00% for next year.
Float and Shares Shorts:
At present, 304.80 million GME shares are outstanding with a float of 266.04 million shares on hand for trading. On Aug 30, 2023, short shares totaled 51.25 million, which was 16.79% higher than short shares on Jul 30, 2023. In addition to Mr. Ryan Cohen as the firm’s Exec. Chairman, Mr. Nir Patel serves as its Chief Operating Officer.
Other institutions hold 8.73% of GME, in contrast to 3.92% held by mutual funds. Shares owned by individuals account for 19.27%. As the largest shareholder in GME with 8.06% of the stake, The Vanguard Group, Inc. holds 24,572,315 shares worth 24,572,315. A second-largest stockholder of GME, BlackRock Fund Advisors, holds 20,017,332 shares, controlling over 6.57% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in GME, holding 7,450,708 shares or 2.44% stake. With a 2.68% stake in GME, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 8,164,605 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.64% of GME stock, is the second-largest Mutual Fund holder. It holds 8,052,931 shares valued at 149.38 million. Vanguard Small Cap Index Fund holds 2.21% of the stake in GME, owning 6,743,576 shares worth 125.09 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GME since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GME analysts setting a high price target of $20.00 and a low target of $6.00, the average target price over the next 12 months is $14.92. Based on these targets, GME could surge 9.77% to reach the target high and fall by -67.07% to reach the target low. Reaching the average price target will result in a decline of -18.11% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GME stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 132,990 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 508,230 while 135,292 shares were sold.