GameStop (NYSE:GME) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of GameStop Corp. (NYSE:GME) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.01 and traded as high as $24.21. GameStop shares last traded at $24.1950, with a volume of 4,610,846 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $13.50.

GameStop Price Performance

The stock has a 50 day moving average of $22.79 and a two-hundred day moving average of $23.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39. The stock has a market cap of $10.69 billion, a PE ratio of 29.10 and a beta of 2.12.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $821.00 million for the quarter, compared to analyst estimates of $987.29 million. GameStop had a net margin of 11.08% and a return on equity of 9.75%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. Equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ryan Cohen purchased 500,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were acquired at an average cost of $21.12 per share, with a total value of $10,560,000.00. Following the completion of the purchase, the chief executive officer owned 37,847,842 shares of the company’s stock, valued at $799,346,423.04. The trade was a 1.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alain Attal acquired 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were purchased at an average price of $20.90 per share, with a total value of $250,800.00. Following the completion of the acquisition, the director owned 596,464 shares of the company’s stock, valued at $12,466,097.60. This represents a 2.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 517,000 shares of company stock valued at $10,925,150 and sold 23,152 shares valued at $480,059. 8.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On GameStop

Several institutional investors have recently made changes to their positions in GME. Marshall Wace LLP increased its stake in shares of GameStop by 347.7% during the 2nd quarter. Marshall Wace LLP now owns 6,657,678 shares of the company’s stock worth $162,381,000 after purchasing an additional 5,170,741 shares during the last quarter. Invesco Ltd. boosted its holdings in GameStop by 486.6% in the second quarter. Invesco Ltd. now owns 3,858,024 shares of the company’s stock worth $94,097,000 after purchasing an additional 3,200,321 shares in the last quarter. Norges Bank acquired a new position in GameStop during the second quarter worth $76,701,000. Clear Street LLC acquired a new position in GameStop during the second quarter worth $57,433,000. Finally, Van ECK Associates Corp raised its holdings in GameStop by 58.3% during the third quarter. Van ECK Associates Corp now owns 3,098,538 shares of the company’s stock valued at $84,528,000 after buying an additional 1,141,215 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.