Gamestop Corporation (NYSE: GME) In 2024: Will It Be A Valuable Investment?

In the last trading session, 8.4 million shares of the Gamestop Corporation (NYSE:GME) were traded, and its beta was -0.41. Most recently the company’s share price was $12.52, and it changed around -$0.65 or -4.94% from the last close, which brings the market valuation of the company to $3.83B. GME currently trades at a discount to its 52-week high of $27.65, offering almost -120.85% off that amount. The share price’s 52-week low was $11.82, which indicates that the current value has risen by an impressive 5.59% since then. We note from Gamestop Corporation’s average daily trading volume that its 10-day average is 7.76 million shares, with the 3-month average coming to 3.64 million.

Gamestop Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 4.50. If we narrow it down even further, the data shows that 1 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended GME as a Hold, whereas 0 deemed it a Buy, and 1 rated it as Underweight. Gamestop Corporation is expected to report earnings per share of -$0.09 for the current quarter.

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Gamestop Corporation (NYSE:GME) trade information

Instantly GME has showed a red trend with a performance of -4.94% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -28.58% year-to-date, but still down -8.35% over the last five days. On the other hand, Gamestop Corporation (NYSE:GME) is -12.08% down in the 30-day period. We can see from the shorts that 59.55 million shares have been sold at a short interest cover period of 20.69 day(s).

The consensus price target as assigned by Wall Street analysts is $15.3, which translates to bulls needing to increase their stock price by 18.17% from its current value. Analyst projections state that GME is forecast to be at a low of $5.6 and a high of $25.

Gamestop Corporation (GME) estimates and forecasts

Gamestop Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -27.00 percent over the past six months and at a -83.33% annual growth rate that is well below the industry average of -5.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 35.70% in revenue this quarter, and will report a decrease of -33.30% in the next quarter. The year-over-year growth rate is expected to be -9.10%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.05 billion in revenue for the current quarter. 2 analysts expect Gamestop Corporation to make $1.04 billion in revenue for the quarter ending Jul 2024.

GME Dividends

Gamestop Corporation’s next quarterly earnings report is expected to be released around June 05 and June 10.

Gamestop Corporation (NYSE:GME)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 12.82% of Gamestop Corporation shares, and 29.67% of them are in the hands of institutional investors. The stock currently has a share float of 34.04%. Gamestop Corporation stock is held by 349 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.32% of the shares, which is about 25.45 million shares worth $318.64 million.

Blackrock Inc., with 7.37% or 22.54 million shares worth $282.26 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 8.14 million shares worth $101.96 million, making up 2.66% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 8.11 million shares worth around $101.52 million, which represents about 2.65% of the total shares outstanding.