GameStop (NYSE:GME) Trading Up 4.8% – Time to Buy?

GameStop Corp. (NYSE:GME) was up 4.8% during mid-day trading on Monday . The company traded as high as $22.42 and last traded at $22.2550. Approximately 4,349,492 shares traded hands during trading, a decline of 56% from the average daily volume of 9,954,989 shares. The stock had previously closed at $21.23.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of GameStop in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, GameStop currently has an average rating of “Reduce” and a consensus price target of $13.50.

GameStop Stock Performance

The stock has a 50 day moving average price of $22.27 and a two-hundred day moving average price of $23.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.39 and a quick ratio of 9.77. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 27.94 and a beta of -1.30.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $821.00 million for the quarter, compared to the consensus estimate of $987.29 million. GameStop had a net margin of 11.08% and a return on equity of 9.75%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. On average, analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 6,509 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $179,518.22. Following the transaction, the insider owned 112,620 shares of the company’s stock, valued at approximately $3,106,059.60. This represents a 5.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of GameStop stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $122,703.42. Following the completion of the sale, the general counsel directly owned 112,302 shares of the company’s stock, valued at $3,097,289.16. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Several large investors have recently made changes to their positions in GME. Geode Capital Management LLC lifted its position in GameStop by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 7,049,033 shares of the company’s stock valued at $171,955,000 after purchasing an additional 66,550 shares during the period. Marshall Wace LLP raised its stake in shares of GameStop by 347.7% during the second quarter. Marshall Wace LLP now owns 6,657,678 shares of the company’s stock worth $162,381,000 after buying an additional 5,170,741 shares during the last quarter. Invesco Ltd. lifted its holdings in GameStop by 5.5% in the third quarter. Invesco Ltd. now owns 4,068,547 shares of the company’s stock valued at $110,990,000 after buying an additional 210,523 shares during the period. Northern Trust Corp boosted its stake in GameStop by 1.1% in the third quarter. Northern Trust Corp now owns 3,250,275 shares of the company’s stock valued at $88,668,000 after acquiring an additional 35,275 shares during the last quarter. Finally, Norges Bank bought a new position in GameStop in the second quarter valued at approximately $76,701,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.