GameStop (NYSE:GME) Share Price Passes Above 200-Day Moving Average – What’s Next?

GameStop Corp. (NYSE:GME) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.23 and traded as high as $31.59. GameStop shares last traded at $31.14, with a volume of 5,523,507 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wedbush reissued an “underperform” rating and issued a $10.00 price target on shares of GameStop in a research note on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Up 0.8 %

The stock’s fifty day simple moving average is $26.23 and its two-hundred day simple moving average is $24.23. The firm has a market cap of $13.91 billion, a PE ratio of 173.01 and a beta of -0.11.

GameStop (NYSE:GME) last announced its quarterly earnings data 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 return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. The business’s revenue was down 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daniel William Moore sold 2,624 shares of GameStop stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the sale, the insider now directly owns 32,280 shares in the company, valued at $677,880. The trade was a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the transaction, the general counsel now directly owns 54,927 shares of the company’s stock, valued at $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 90 days. 12.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GameStop

A number of large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama lifted its holdings in shares of GameStop by 41.7% during the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock valued at $10,804,000 after buying an additional 138,597 shares during the period. Sanctuary Advisors LLC bought a new position in GameStop in the third quarter valued at about $230,000. Virtu Financial LLC purchased a new position in GameStop in the third quarter worth about $285,000. Geode Capital Management LLC grew its stake in shares of GameStop by 41.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after purchasing an additional 1,852,088 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in shares of GameStop by 25.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 141,383 shares of the company’s stock valued at $3,242,000 after purchasing an additional 28,699 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

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.