GameStop (NYSE:GME) Shares Up 3.5% – Still a Buy?

GameStop Corp. (NYSE:GME) traded up 3.5% during trading on Tuesday . The stock traded as high as $31.42 and last traded at $30.46. 4,561,886 shares were traded during mid-day trading, a decline of 76% from the average session volume of 18,933,855 shares. The stock had previously closed at $29.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wedbush reaffirmed an “underperform” rating and set a $10.00 price target on shares of GameStop in a research report on Friday, December 6th. StockNews.com upgraded GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Stock Performance

The company has a 50-day simple moving average of $25.50 and a two-hundred day simple moving average of $24.34. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 158.62 and a beta of -0.11.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $860.30 million for the quarter, compared to analysts’ expectations of $887.68 million. The firm’s revenue was down 20.2% on a year-over-year basis. As a group, sell-side analysts predict that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the transaction, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of GameStop stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the sale, the general counsel now directly owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. The trade was a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock worth $481,000 over the last ninety days. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently modified their holdings of GME. UMB Bank n.a. raised its position in shares of GameStop by 535.8% in the third 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 in the last quarter. Centerpoint Advisors LLC bought a new position in shares of GameStop in the second quarter worth $47,000. CWM LLC raised its stake in GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares in the last quarter. Quest Partners LLC grew its stake in GameStop by 7,156.5% during the second quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock worth $152,000 after buying an additional 6,083 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in GameStop in the 3rd quarter valued at about $171,000. 29.21% of the stock is currently 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.