GameStop (NYSE:GME) Stock Price Up 4.1% – Time to Buy?

GameStop Corp. (NYSE:GME) shares traded up 4.1% during mid-day trading on Friday . The company traded as high as $23.81 and last traded at $23.7410. 1,157,466 shares traded hands during trading, a decline of 86% from the average session volume of 8,404,410 shares. The stock had previously closed at $22.81.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of GameStop from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 16th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $13.50.

GameStop Stock Up 3.9%

The stock has a fifty day simple moving average of $21.82 and a two-hundred day simple moving average of $22.84. The firm has a market cap of $10.62 billion, a PE ratio of 28.84 and a beta of -1.23. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78.

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

Insider Buying and Selling

In other news, Director Lawrence Cheng purchased 5,000 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was purchased at an average price of $22.87 per share, with a total value of $114,350.00. Following the completion of the purchase, the director directly owned 88,000 shares in the company, valued at approximately $2,012,560. This trade represents a 6.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel William Moore sold 5,477 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $20.44, for a total value of $111,949.88. Following the transaction, the insider directly owned 108,224 shares in the company, valued at approximately $2,212,098.56. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, 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 currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of GameStop by 39.2% in the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock valued at $46,000 after acquiring an additional 471 shares during the period. Thrivent Financial for Lutherans raised its position in GameStop by 0.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 96,623 shares of the company’s stock valued at $2,357,000 after purchasing an additional 511 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in GameStop by 1.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 30,761 shares of the company’s stock worth $750,000 after buying an additional 576 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of GameStop by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 131,002 shares of the company’s stock valued at $3,574,000 after buying an additional 578 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in GameStop by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 114,500 shares of the company’s stock worth $2,793,000 after acquiring an additional 600 shares during the period. Institutional investors own 29.21% of the company’s stock.

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.