GameStop (NYSE:GME) Trading 3.9% Higher – Still a Buy?

Shares of GameStop Corp. (NYSE:GME) traded up 3.9% during trading on Tuesday . The company traded as high as $31.10 and last traded at $30.84. 5,767,052 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 19,189,809 shares. The stock had previously closed at $29.67.

Analyst Upgrades and Downgrades

GME has been the topic of several recent research reports. Wedbush reduced their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th.

GameStop Stock Performance

The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 228.33 and a beta of -0.13. The stock’s fifty day moving average is $22.97 and its two-hundred day moving average is $23.87.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. Sell-side analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of GameStop stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the sale, the insider now directly owns 32,280 shares of the company’s stock, valued at approximately $677,880. This represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is currently owned by corporate insiders.

Institutional Trading of GameStop

A number of institutional investors and hedge funds have recently modified their holdings of GME. UMB Bank n.a. boosted its holdings in shares of GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after buying an additional 959 shares during the period. AlphaMark Advisors LLC grew its holdings in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in shares of GameStop in the 2nd quarter worth approximately $47,000. GAMMA Investing LLC lifted its holdings in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares during the last quarter. Finally, CWM LLC boosted its position in GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.