GameStop (NYSE:GME) Stock Price Up 7.1% – Should You Buy?

GameStop Corp. (NYSE:GME)’s share price traded up 7.1% during trading on Monday . The company traded as high as $25.83 and last traded at $26.49. 1,762,719 shares traded hands during trading, a decline of 71% from the average session volume of 6,088,941 shares. The stock had previously closed at $24.73.

Wall Street Analysts Forecast Growth

GME has been the subject of several analyst reports. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush reissued an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

GameStop Stock Down 2.2 %

The company has a 50 day moving average of $29.03 and a 200 day moving average of $25.10. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 147.37 and a beta of -0.11.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 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 during the quarter, compared to the consensus estimate of $887.68 million. The business’s quarterly revenue was down 20.2% on a year-over-year basis. On average, research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company’s stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by company insiders.

Institutional Trading of GameStop

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock worth $1,226,775,000 after purchasing an additional 2,036,032 shares in the last quarter. State Street Corp raised its stake in shares of GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after buying an additional 3,070,571 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of GameStop by 41.8% in the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after buying an additional 1,852,088 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in GameStop by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock valued at $113,146,000 after buying an additional 107,354 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in GameStop by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock worth $80,401,000 after acquiring an additional 60,673 shares during the period. Institutional investors 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.