GameStop (NYSE:GME) Shares Climb 4.4% – Time to Buy?

Shares of GameStop Corp. (NYSE:GME) shot up 4.4% during trading on Thursday. The stock traded as high as $25.73 and last traded at $25.65. 4,635,930 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 7,368,380 shares. The stock had previously closed at $24.58.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of GameStop in a research report on Wednesday, July 29th. Wall Street Zen downgraded GameStop from a “buy” rating to a “hold” rating in a research report on Monday, September 7th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, GameStop currently has an average rating of “Hold”.

GameStop Stock Up 4.1%

The business’s 50 day simple moving average is $20.67 and its 200 day simple moving average is $21.93. The company has a current ratio of 8.72, a quick ratio of 8.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $12.91 billion, a PE ratio of 16.84 and a beta of 1.63.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The company had revenue of $790.20 million during the quarter, compared to analyst estimates of $756.85 million. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue was down 18.7% on a year-over-year basis.

Insider Activity at GameStop

In other news, Director Nat Turner acquired 10,462 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were acquired at an average price of $24.33 per share, for a total transaction of $254,540.46. Following the completion of the transaction, the director directly owned 10,462 shares of the company’s stock, valued at approximately $254,540.46. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Cheng purchased 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average price of $18.80 per share, for a total transaction of $1,034,000.00. Following the completion of the acquisition, the director directly owned 143,000 shares in the company, valued at $2,688,400. The trade was a 62.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 3,388,642 shares of company stock valued at $76,220,115 and sold 18,475 shares valued at $452,707. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GameStop

Institutional investors and hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its position in GameStop by 805.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after acquiring an additional 2,014 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of GameStop during the second quarter worth $51,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GameStop during the fourth quarter valued at $54,000. Global Assets Advisory LLC purchased a new stake in shares of GameStop during the first quarter valued at $60,000. Finally, CX Institutional grew its holdings in shares of GameStop by 537.1% in the second quarter. CX Institutional now owns 3,313 shares of the company’s stock worth $73,000 after purchasing an additional 2,793 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

About GameStop

GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.

GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.