BofA Securities slashes price target on GameStop Corp. [GME] – find out why.

GameStop Corp. [NYSE: GME] gained 41.21% or 56.76 points to close at $194.50 with a heavy trading volume of 63034187 shares. The company report on March 8, 2021 that GameStop Provides Corporate Governance Update.

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Board Has Established New Strategy Committee.

GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) announced that its Board of Directors (the “Board”) has formed a Strategic Planning and Capital Allocation Committee (the “Committee”) to identify initiatives that can further accelerate the Company’s transformation. The Committee is comprised of Alan Attal, Ryan Cohen, and Kurt Wolf, with Mr. Cohen serving as Chairperson. Since the Committee’s formation, the Company has taken steps that include:.

It opened the trading session at $154.89, the shares rose to $210.8699 and dropped to $146.10, the range by which the price of stock traded the whole day. The daily chart for GME points out that the company has recorded 2387.21% gains over the past six months. However, it is still -7468.09% lower than its most recent low trading price.

If we look at the average trading volume of 40.52M shares, GME reached to a volume of 63034187 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about GameStop Corp. [GME]:

BofA Securities have made an estimate for GameStop Corp. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 27, 2021. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $22 to $33. The new note on the price target was released on January 25, 2021, representing the official price target for GameStop Corp. stock. On December 09, 2020, analysts decreased their price target for GME shares from 6 to 5.

The Average True Range (ATR) for GameStop Corp. is set at 51.32, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 38.14, with the Price to Cash per share for the same quarter was set at 6.65. Price to Free Cash Flow for GME in the course of the last twelve months was 87.37 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for GME stock

GameStop Corp. [GME] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 61.54. With this latest performance, GME shares gained by 263.55% in over the last four-week period, additionally plugging by 2387.21% over the last 6 months – not to mention a rise of 4861.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GME stock in for the last two-week period is set at 68.64, with the RSI for the last a single of trading hit 78.93, and the three-weeks RSI is set at 63.91 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 76.38, while it was recorded at 141.39 for the last single week of trading, and 25.39 for the last 200 days.

GameStop Corp. [GME]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and GameStop Corp. [GME] shares currently have an operating margin of +0.71 and a Gross Margin at +29.52. GameStop Corp.’s Net Margin is presently recorded at -7.18.

Return on Total Capital for GME is now 2.31, given the latest momentum, and Return on Invested Capital for the company is -27.57. Return on Equity for this stock declined to -47.69, with Return on Assets sitting at -13.53. When it comes to the capital structure of this company, GameStop Corp. [GME] has a Total Debt to Total Equity ratio set at 194.36. Additionally, GME Total Debt to Total Capital is recorded at 66.03, with Total Debt to Total Assets ending up at 42.14. Long-Term Debt to Equity for the company is recorded at 155.21, with the Long-Term Debt to Total Capital now at 52.73.

Reflecting on the efficiency of the workforce at the company, GameStop Corp. [GME] managed to generate an average of -$33,171 per employee. Receivables Turnover for the company is 46.84 with a Total Asset Turnover recorded at a value of 1.88.GameStop Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.00.

GameStop Corp. [GME]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, GameStop Corp. posted 1.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.79/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 60.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GME.

An analysis of insider ownership at GameStop Corp. [GME]

There are presently around $14,309 million, or 95.00% of GME stock, in the hands of institutional investors. The top three institutional holders of GME stocks are: FMR LLC with ownership of 9,276,087, which is approximately -2.706% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 9,217,335 shares of the stock with an approximate value of $1.79 billion in GME stocks shares; and VANGUARD GROUP INC, currently with $1.0 billion in GME stock with ownership of nearly -2.383% of the company’s market capitalization.

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Positions in GameStop Corp. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 98 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 15,999,725 shares. Additionally, 130 investors decreased positions by around 19,518,020 shares, while 30 investors held positions by with 38,048,487 shares. The mentioned changes placed institutional holdings at 73,566,232 shares, according to the latest SEC report filing. GME stock had 49 new institutional investments in for a total of 4,047,514 shares, while 38 institutional investors sold positions of 8,186,026 shares during the same period.

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